Rochester, NY Real Estate News

By Mary Shelsby
(ReMax Realty Group)
With gas prices hitting outrageous numbers, it seems more and more people are considering the convenience and economic feasibility of moving to the City of Rochester. If you fall in that category, I suggest you check out City Living Sundays during the next three weekends.Each weekend will focus on a different section of the city. The festivities start each Saturday at 2 pm with a FREE Landmark Society Bus Tour of the featured neighborhood. Reservations are required and can be made by calling 585-546-7029 Ext. 10. Each tour starts at the Home Room at the Landmark Society of WNY, 133 S. Fitzhugh St. Then on each Sunday there is a wide variety of educational programs on how to by a house and apply for financing. In addition, there will be city school and neighborhood information as well a...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnOnce again rates are on a roller coaster ride.  Now is the time to purchase your new home or refinance your current mortgage.Key Rates - Last Updated on 3/25/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 5.8750.0005.993$59215 Year Fixed 5.3750.0005.563$81030 Year FHA/VA 5.7500.0005.951$58430 year fixed Home 97 5.6250.0005.738$57640 year fixed Home 97 5.7500.0005.865$53330 Year NO PMI 6.3751.2506.598$624Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His phone number is (585) 425-5811.  He is available to serve your needs for residential and c...
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By RE/MAX Custom Property Management
(RE/MAX Custom)
Why would someone invest in the Rochester NY area? It is very simple cash flow. Compared to other national markets, Rochester is a very sable market, were local investors, investors around the county, and around the world can make money with small amounts of their own monetary investment.What are the keys to investing in Rochester??? First an investor must buy right. Buying right can mean different things to various investors, but in Rochester "cash flowing" a property is why most people look here. The numbers must work.Finding properties that should cash flow are easy... The next step is to get the cash. Property management may be the single largest element to investment property. Whether investors are managing the property themselves or hiring a property manager if you can not collect...
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From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughnBeginning today, March 20th, the first day of spring, I am offering a $500 discount to every home buyer who prints the coupon below and applies for a mortgage.  It is open to anyone and is transferrable.  If you are looking to buy a home located anywhere in New York State, then we need to talk.  If you are a real estate agent located anywhere in New York State, you need to give each one of your buyers a copy of this and have them call me.  Call me at 585-425-5811 or Toll Free at 877-223-0480 ext. 111 to take advantage of this limited time offer.
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Mortgage ProfessionalWebsite:  http://ahfmortgage.elliemae.net/ddraughn Rates are changing as rapidly as they can be posted.  Today rates are better.  If you are considering purchasing a new home or refinancing your current mortgage now is the time.  These rates could go up before you finish reading this post.  Give me a call today to get your FREE pre-approval.Key Rates - Last Updated on 3/19/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.000.0006.365$59915 Year Fixed 5.0000.0005.327$79130 Year FHA/VA 5.750.0005.942$59230 year fixed Home 97 5.500.0005.852$56840 year fixed Home 97 5.6250.0005.933$52430 Year NO PMI 6.3751.2506.598$624Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. locat...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn Rates are going down again.  Today is a great day to refinance or to purchase a new home.  Don't way too long though.  Who knows what will happen with rates in the coming days.Key Rates - Last Updated on 3/17/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.1250.0006.276$60815 Year Fixed 5.0000.0005.327$79130 Year FHA/VA 6.0000.0006.210$60030 year fixed Home 97 5.8750.0005.993$59240 year fixed Home 97 6.0000.0006.120$55030 Year NO PMI 6.3751.2506.598$624Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His phone number is (585) 425-5...
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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 3/11/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.3750.0006.503$62415 Year Fixed 6.0000.0006.210$84430 Year FHA/VA 6.3750.0006.598$62430 year fixed Home 97 6.1250.0006.248$60840 year fixed Home 97 6.2500.0006.375$56830 Year NO PMI 6.6251.2506.857$640 Rates continue to play the roller coaster ride but now is still a good time to purchase a home or refinance your current mortgage.  Call me to discuss your mortgage needs. Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His phone number is (585) 425-5811...
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By Mary Shelsby
(ReMax Realty Group)
It's bound to happen. I spend many of my days dashing in and out of homes, most staged to make a visitor fall in love, so it should come as no surprise that from time to time I get urge to move. Well it happened again. But when I mentioned it to my husband, he gave me one of those stern looks and said it's to close to golf season to even kid about moving.I didn't have the nerve to tell him I wasn't kidding, so instead I spent my weekend implementing my marketing plan for my newest client. This 4 bedroom, 2 bath home is located in the Ellwanger-Barry neighborhood (a couple of blocks from Highland Hospital). I'm not disclosing the address yet, but I will tell you that it has been nicely maintained, has a one car garage and the back yard has been professionally landscaped. It will go on th...
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By Steve Babbitt, Past President of the Rochester Realtors
(Babbitt Realty)
This week saw the raising of the FHA limits on mortgages which will help the buyers afford the homes in the suburbs.  Inventory is still low which is starting to push the prices up when a desireable home comes on the market.
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnThe following is from a blog I read from a Google Alert and I feel it needs to be posted here.  I hope you enjoy it as much as I did. The housing market is still in a downward slide. According to today's report from the National Association of Realtors, the U.S. median home price was down 4.6% to $201,100 in January from January 2007's $210,900. The number of homes sold dipped slightly, dropping 0.4% from December. Last November, when the median price hit $207,800 we took a look at what kind of home that amount of money would buy around the country. Today, we figured we'd see what approximately $201,100 would get us. Here's what we found at Realtor.com:  A $200,000 listing in ...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnThe FHA Maximum Mortgage Limits for Rochester NY and surrounding counties have been raised by HUD as part of the new stimilus package recently signed into law by President George W. Bush.  Below is a chart showing the new limits as of March 5, 2008:MSA Name MSA Code Division County Name CountyCodeStateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyLast RevisedBATAVIA, NY (MICRO) 12860  GENESEE037 NY$271,050$347,000$419,400$521,25003/05/2008 ROCHESTER, NY (MSA) 40380  LIVINGSTON051 NY$271,050$347,000$419,400$521,25003/05/2008 ROCHESTER, NY (MSA) 40380  MONROE055 NY$271,050$347,000$419,400$521,25003/05/2008 ROCHESTER, NY (MSA) 40380  ONTARIO069 NY$271,050$347,000$419,400$521,25003/0...
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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 3/6/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.5000.0006.630$63215 Year Fixed 6.0000.0006.210$84430 Year FHA/VA 6.5000.0006.728$63230 year fixed Home 97 6.2500.0006.375$61640 year fixed Home 97 6.3750.0006.503$57730 Year NO PMI 6.7501.2506.986$649 Rates continue to play the roller coaster ride but now is still a good time to purchase a home or refinance your current mortgage.  Call me to discuss your mortgage needs. Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His phone number is (585) 425-5811....
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By Mary Shelsby
(ReMax Realty Group)
I worked! Several meetings, showed a piece of property for the third time and just kind of scrambled to try to accomplish a few things before I turned over another page on the calendar.My neighbors, however, were much smarter than me. Heck, with 366 days on the calendar this year they used the extra day to have some fun. We woke up this morning to find a huge igloo across the street. If you are in the vicinity of Highland Ave between Mt Hope be sure to check it out!   
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnWell, the roller coaster interest rate ride continues.  Rates are up but are still lower than several years ago.  Now is still the time to consider purchasing a home or refinancing your current mortgage.Key Rates - Last Updated on 2/26/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.3750.0006.503$62415 Year Fixed 6.1250.0006.339$85130 Year FHA/VA 6.3750.0006.598$62430 year fixed Home 97 6.1250.0006.248$60840 year fixed Home 97 6.2500.0006.375$56830 Year NO PMI 6.7501.2506.986$649 Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His ...
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnThe Strong National Museum of Play is one of the places that makes Rochester NY a place for families.  It has everything you can imagine to do.  Below is information and several links to check out.  If you are considering relocating to Rochester or just visiting, the musuem is a place you will want to include in your itinerary.  Be careful though.  It is truly a place that you and your kids will want to "Stay...All Day!"  There's So Much To See And Do!Recognized as one of the nation's top museums for families and children, Strong National Museum of Play® is home to the National Toy Hall of Fame® and the world's largest collection of toys, dolls, games and other items that cele...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn You can create your own dream house with this property!  It is worth looking at and with our "Create Your Own Dream Home" Renovation Loan you can make this the perfect home for you.  Call or email me for more information.  Don Draughn is a Professional Mortgage Consultant and a Sale Manager at Affordable Home Funding, Inc. located at 900 Perinton Hills Office Park, Suite 970, Fairport, NY, 14450.  His phone number is (585) 425-5811.  He is available to serve your needs for residential and commercial mortgages in Rochester NY and all of New York State.REGISTERED MORTGAGE BROKER - N.Y.S. BANKING DEPARTMENTLoans arranged with 3rd party providers.  Borrowers must qualify. 
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnInterest rates have been on a roller coaster ride for the last few weeks.  President Bush's Stimilus Package may be starting to have some impact.  As you review this chart, keep in mind that rates do change every day so as they begin to go down you don't want to wait too long to lock in or you might miss the best possible rate.Key Rates - Last Updated on 2/21/2008Loan ProgramRate (%)Points (%)APR (%)Payment**30 Year Fixed 6.1250.0006.248$60815 Year Fixed 5.0000.0005.175$79130 Year FHA/VA 5.8750.0006.081$59230 year fixed Home 97 5.8750.0005.993$59240 year fixed Home 97 6.0000.0006.120$55030 Year NO PMI 6.3751.2506.598$624 Don Draughn is a Professional Mortgage Consultant and a ...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnI read an article this morning that I received in an email subscription from Wharton University called "Knowledge at Wharton".  The article is entitled:  "The Economic Stimulus Package: Will It Work, and for Whom?"  I found this article very interesting so I have decided to share some of it with you below.Published: February 20, 2008 in Knowledge@Wharton "Congress and the White House recently settled on an economic stimulus package with unusual speed, pushing the throttle to pull the economy out of a nosedive. Is this just election-year grandstanding, or does economic stimulus really work? And if it can work, what works best?""While some experts argue that priming the economy ...
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From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughnSteve Sink, Business Editor at the Rochester NY newspaper, Democrat and Chronicle, says in a recent article that he sees the current economy as a "stalemate" at worst.  You can read his article at "Recession glass is half full for this journalist" to see how he came to this conclusion.I for one agree with him.  The Rochester Real Estate market is beginning to take an upturn in my opinion.  As a Loan Officer, new applications are up for me.  Referrals from Real Estate agents are up.  More and more people are beginning to see that now is a good time to buy a home.  With rates still lower than they have been in quite a while, more and more people are looking to refinance.It is go...
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By Don Draughn - Mortgage Professional
From the Desk of Don Draughn, Professional Mortgage ConsultantWebsite:  http://ahfmortgage.elliemae.net/ddraughn I was honored when Jeff Belonger asked me to write this review.  This is my first time writing this so I hope it proves as useful as previous reviews have been to me. First off, I want to highlight a blog by David Soto entitled "Organizing for Success".  This one certainly gave me a kick in the pants that I desperately needed.  I am sure organization is a problem for all of us to one extent or another. Then there is Jay Beckingham who wrote a great post highlighting the advantages that FHA has over conventional loans.  It is entitled "FHA (Loans) Crushing Conventional Financing".  This is a post that every loan officer and Real Estate Agent who is not a fan of FHA needs to pa...
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