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Integra Lending Group, Madisonville, LA – “How Purchase Loans are Made.”

May 13, 2010 by admin Leave a Comment

How Purchase Loans Are Made
A Step-By-Step Walkthrough


1.
Loan Search – Buyers should seek the advice of an experienced mortgage professional, someone who will help determine which financing options best suit their needs today and in the future.
2.
Loan Application – It's crucial that consumers supply the lender with as much information as possible, as accurately as possible. All outstanding debts as well as assets and income should be included.
3.
Documentation – Buyers must submit paperwork supporting the application as well. Information commonly sought includes pay stubs, two years' tax returns, and account statements verifying the source of the down payment, funds to close and reserves.
4.
Pre-approval – Getting pre-approved for a mortgage allows borrowers to know exactly how much house they can afford. Viewed as "cash buyers", pre-approved borrowers have greater negotiating power as well.
5.
The Hunt – The buyer begins shopping for a house. When the right one is found, the terms of the sale will be negotiated, including the price and potential terms of the loan being sought.
6.
Appraisal – Lenders require an appraisal on all home sales. By knowing the true value of the home, the borrower is protected from overpaying.
7.
Title Search – This is the time when any liens against the property are discovered. A lien may have been placed on a property to ensure payment of outstanding debts by the owner. All liens must be cleared before a transaction can be completed.
8.
Termite Inspection – While most purchase loans do not require a formal inspection for termite and water damage, some loans (especially government loans) allow for the possibility. If problems are found, repairs may be necessary.
9.
Processor's Review – The mortgage professional packages all pertinent information and sends it to the lending underwriter, including any explanations that may be needed, such as reasons for derogatory credit.
10.
Underwriter's Review – Based on the information put together by both the loan executive and the processor, the underwriter makes the final decision regarding whether or not a loan is approved.
11.
Mortgage Insurance – Many lenders require private mortgage insurance when borrowers put down less than 20 percent on a loan.
12.
Approval, denial or counter offer – In order to approve a loan, the lender may ask the borrowers to put more money down to improve the debt-to-income ratio. The borrower may also need a bigger down payment if the property appraises for less than the purchase price.
13.
Insurance – Lenders require fire and hazard insurance on the replacement value of the structure. Flood insurance will also be required if the property is located in a flood zone. In California, some lenders require earthquake insurance on condominiums.
14.
Signing – During this step, final loan and closing documents are signed.
15.
Funding – At this point, the lender sends a wire or check for the amount of the loan to the closing company.
16.
Close of Transaction – Documents transferring title will now be recorded with the County Recorder.
17.
Buyer Begins Making Mortgage Payments

Thank You

Guy V Jones & Lance Scott
Managing Owners
Integra Lending Group, LLC
Phone: 985-206-0960
Fax: 985-206-0965
ls@integralg.com
www.IntegraLendingGroup.com

Filed Under: Mortgage Lenders

St. Tammany / Washington Parishes Home Builders Association

May 13, 2010 by admin Leave a Comment

Win a house. Build our future.

Dear HBA Members,

Each year our members join together to build a beautiful house that is raffled off and the proceeds benefit deserving charities in St. Tammany and Washington Parishes. We are proud to have such great members who support us in this effort.

For this year’s Raising the Roof for Charity Raffle House there are only 5,500 tickets. Every ticket is a winner. You have a good chance of claiming a great home. And you’ll surely help make St. Tammany a greater community. The drawing is less than a week away and there are still lots of tickets available! We need your help to make this year a success! Get your tickets now and encourage your staff, family and friends to get their tickets before it is too late. Even if you don't win, you know your money is going to creating a better community.

The annual Raffle House event supports organizations that are working to build a better future for St. Tammany. Organizations like Support Our War Heroes, Tammany Trace Foundation, American Red Cross and many others.

We will also be drawing for other great prizes including an autographed Sean Payton football; $750 gift certificate for a pair of bikes; a freshwater cultured pearl bracelet; a piece of STARC Art; signed and number prints by Adam Sambola; $100 Shell gift card; $100 Visa gift card; and free oil changes from 5 Minute Oil.

Win a house. Build our future. Buy a ticket. You can’t lose.

Learn more and buy tickets at www.raisingtheroof.net.

Thank You

Filed Under: St Tammany Louisiana, Washington Parish

“Who Dat” Watches! Get Yours Now and Show Off Your Fanhood! :-)

May 13, 2010 by admin Leave a Comment

We would like to announce our new Who Dat Watches, made by Pulsar, a division of Seiko Watches, specifically for Fisher and Sons Jewelers. The watch is in a silver tone, with a gold fleur de lis on the dial and the words “WHO DAT” just above the 6.  It currently sells for just $89.50. These watches are currently only in a Men’s style, but a Ladies style will be made available if there is enough demand.

Fisher and Sons Jewelers

If you would like to place an order, please give us a call at 504-885-4956 or email us at info@fisherandsonsjewelers.com

 

Craig Fisher

President/Master Jeweler

Fisher and Sons Jewelers

5101 W. Esplanade Ave, Ste 1

Metairie, LA 70006

(504)885-4956

Filed Under: We Love St Tammany! Tagged With: new orleans saints

Friends Coastal Restaurant in Madisonville presents FriendzFest 2010

May 13, 2010 by admin Leave a Comment

Friends Coastal Restaurant presents FriendzFest to benefit

Guitars In The Classroom and Art For Madisonville

 

Friends Coastal Restaurant presents the first annual FriendzFest to benefit local charities on May 30th, 2010.  Proceeds from the event benefit the Guitars In The Classroom and Art For Madisonville.

 

The event will include arts and crafts vendors, live music throughout the day, fabulous food and beverages, a spokesmodel contest and a spectacular fireworks show on the Tchefuncte River.

 

The Band of Brothers (blues) start the music at 3pm, followed by Supercharger (80’s and 90’s pop hits) at 430pm, then Soul Revival (Motown and R&B) takes the stage at 6pm.  The Miss Planet Beach International Preliminary Spokesmodel Competition then takes the stage at 730pm.  Bottoms Up! (modern hits and rock) then come out at 8pm directly before the fireworks at 930pm.  The Dingbats (rock and roll) conclude the evening with live music down the street from Friends at Riverside Tavern.

 

The streets intersecting at Friends (St. Tammany and Water Street) will be blocked off at 2pm.

 

The Friendzfest 2010 Fireworks On The River Extravaganza will take place directly in front of Friends Restaurant launched from a huge barge parked in the Tchefuncte River.

 

 Friends owner Chris Binnings expects a fun filled day “We are expecting a good crowd and a diverse crowd with a lot of families attending.  And we can’t be more excited to be hosting the first annual Friendzfest especially since we will be helping out two outstanding local charities, Guitars In The Classroom and Art For Madisonville.”

 

Friends Coastal Restaurant is located at 407 Saint Tammany Street Madisonville, LA 70447   (985) 845-7303

 

About Art For Madisonville

Art For Madisonville is a non-profit organization created to nurture and promote the development of art and artists in our area. A primary element of this promotion is the establishment of a local art market. It also provides art collectors and art lovers access to the ever increasing range of art in St. Tammany Parish. Art markets are scheduled at various time throughout the year along the Tchefuncte River Front in Madisonville, LA. For additional information, call Philippa Gillen at (985) 845-8292.

About Guitars In The Classroom    Guitars in the Classroom inspires, trains and equips general classroom teachers and specialists to integrate music and music making across the academic curriculum through “song-based instruction” so students of all ages have the opportunity to learn through making music together in class, everyday. Our work prepares and supports educators to lead the way competently and confidently, employing music as a powerful tool for reaching all learners, teaching all subjects, and building character and community in their classrooms.

GITC programs are free to teachers. They include “easy” group guitar, singing, song-leading and collaborative songwriting instruction on an ongoing basis through seven sequential course levels, in accordance with educational content standards for music and academic subjects. And thanks to the generosity of GITC’s sponsors from the music products industry, teachers have free access to instruments, musical accessories, resource materials, and pedagogical support.

Guitars in the Classroom believes that strong local musical communities can support and sustain programs that allow children and youth to experience music throughout the years. Our unique, grassroots approach unites teachers, school administrators, artists, families, business people, associations, community foundations, civic organizations, and generous individuals in a common purpose- to revive and restore music to its rightful place in our schools and culture. Together, we can make a difference.   For more information:  www.guitarsintheclassroom.org.

Thank You

 

Filed Under: Madisonville, Louisiana, We Love St Tammany!

215 East Gibson St, Covington, LA 70433, Commercial Real Estate For Sale

May 13, 2010 by admin Leave a Comment

215 E Gibson St, Covington LA Commercial Real Estate 1
215 E Gibson St, Covington LA Commercial Real Estate 2 
 

For more information on this and other commercial properties available for sale in Covington, LA, please contact Bucky Meredith at 985-801-9112, or visit www.MMS-Properties.com for a list of Residential and Commercial real estate.

Thank You

Mauti Meredith Scoggin

Filed Under: Covington, Louisiana Tagged With: Commercial Real Estate

Properties Sold at the St Tammany Foreclosure Sale, May 12, 2010

May 13, 2010 by admin Leave a Comment

Download Sold Properties, St Tammany Foreclosure Sale May 12th 2010

A very standard day at the St Tammany foreclosure sales. Every property went back to the Banks / Plaintiffs, save 1 which was purchased by a private investor. Attendence for the sale was pretty standard, around 20 people, though there were several familiar faces in the crowd I had not see in awhile. I am also attaching the list of cancelled sales.

Download Cancelled Sales, St Tammany Foreclosure Sale May 12th 2010

Thank You

Marc

Filed Under: St Tammany Foreclosures, Sold Properties

St Tammany Parish Foreclosure Sale, Scheduled June 16th, 2010

May 13, 2010 by admin Leave a Comment

Download St Tammany Parish Foreclosure Sale, June 16th, 2010

Attached above is a link to the latest Foreclosures / Distressed Properties list for St Tammany Parish. The Sheriff's sale for these properties is scheduled Wednesday June 16th, 2010 at 10:00 am on the first floor of the Justice Center located at 701 N Columbia St, Covington, LA 70433. This list is an Adobe PDF (Portable Document Format), and will require each user to view the document using the Free Adobe Reader. This program is available at http://www.adobe.com/products/acrobat/readstep2.html

 
If you have any questions regarding understanding this list or the availability of any of these properties, please do not hesitate to call or email and we will work with you to resolve any questions.
This list is provided as a free service.
Please consider Mauti Meredith Scoggin / GMAC when selling or purchasing a property in our local market.
We service both Residential and Commercial Real Estate.
 
Thank You

Filed Under: St Tammany Foreclosures, Scheduled Sales

Covington, Louisiana 70433, Downtown and Surrounding Area, 3 Year Real Estate Review

May 11, 2010 by admin Leave a Comment

Covington, LA 70433, N of I-12, W and S of Hwy 190, Residential Real Estate 3 Year Review

The graph above, (feel free to click to enlarge) illustrates a 3 year review of real estate activity for the City of Covington, North of I-12 and West and South of Hwy 190. Major subdivisions in this area include; Northpark Estates, Versailles, Flowers Estates, Tallow Creek, Old Landing and also a large majority of Downtown Covington. This graph tracks the number of new, active, and sold homes, as well the average sales price, on a month to month basis, from March 2007 through February 2010.

Starting at the top, over the past 3 years the number of active homes for sale on the market (green) has fluctuated some, but in due course is on the same line as where it started.

However, the average sales price (yellow) of homes over the last 3 years looks like a seismic reading from an earthquake. The numbers are all over the place month to month, and currently reflect a small decrease in home values than where we were. I am also hesitant about placing a specific number on the decrease due to the wildly erratic graph line. I would have to say this is an effect from the lower number of sold (blue) homes over the same period. The anomalies’ ugly heads become more exposed. What I mean by anomalies are the; excellent condition homes with 5 acres which sell for $250.00 per SQFT, or the 4000 SQFT, poor condition homes which sell for $48.00 per SQFT. These far left and far right, price per square foot sales, throw wrenches into the works, skewing the numbers greatly. Therefore no consistency.7

Lastly, not much to say on the number of new homes (red) for sale on the market. The number has bounced a good bit month to month but has returned to almost the same number it started with. Coming full circle maybe?

If you have any questions or comments, please feel free to post. For real estate services throughout St Tammany Parish, visit

www.TheScogginGroup.com

Thank You

Marc

Filed Under: Covington, Louisiana Tagged With: Real Estate Review

The Shoppes at River Highlands, Commercial Real Estate, Hwy 190 Covington, LA

May 10, 2010 by admin Leave a Comment

The Shoppes, River Highlands, Covington, LA 1
The Shoppes, River Highlands, Covington, LA 2
For more information on this and other commercial real estate available in Covington, LA 70433. Contact
Bucky Meredith at 985-801-9112, or Marsha Smalley at 985-630-6529.

You may also visit our website for more information on residential and commercial real estate avalaible for sale in St Tammany Parish and beyond.

www.MMS-Properties.com

Thank You

Marc

 

Filed Under: Covington, Louisiana Tagged With: Commercial Real Estate

Mandeville and Madisonville, Louisiana Real Estate Review, Month of April 2010.

May 10, 2010 by admin Leave a Comment

Pie Graph, Mandeville and Madisonville, LA Home Sales, April 2010

The pie chart above illustrates data pulled for the Cities of Mandeville, LA 70448, 70471, as well Madisonville, LA 70447

=====

71 residential home sales for Mandeville and Madisonville for the month of April. Wooot! Another increase. I love it. More sales equals less inventory equals higher home values and less days on market. I do want to temper the excitement due to the “First Time Home Buyer’s $8000.00 Tax Credit’s” deadline was in April. So… I am sure there are a few sales we could count in here as being a direct re-action to it. Either way I like it.

Download Mandeville and Madisonville, LA, Residential Real Estate Sales, April 2010

=====

The attached Adobe PDF document contains:

•Property Address

•Age of Property

•Condition of Property

•Square Footage

•# of Beds

•# of Baths

•Original List Price

•Final Sold Price

•Final Sold Price per Square Foot

•# Days on Market

=====

Thank You

Marc Pellettiere

985-867-8670

marcp@scogginproperties.com

For a FREE Home Evaluation,

www.StTammanyHomeEvaluation.com

Filed Under: Madisonville, Louisiana, Mandeville, Louisiana Tagged With: Real Estate Review

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StTammanyTalks.com

Originally begun in August 2007 with our first post, St Tammany Talks was an idea to form a universal St Tammany website. Featuring in-depth coverage of local real estate and a detailed source for anyone looking to relocate to St Tammany Parish. Please contact us with any questions. We would be happy to assist you in your real estate needs. Thank you.

Marc Pellettiere, Associate Broker, REALTOR®, ABR, QSC, CMS, , gCertified
Mauti Schroder Scoggin Real Estate
1131 North Causeway Boulevard
Mandeville, LA 70471
985-515-5825 Cell
985-867-8670 Office
985-893-1293 Fax
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