Monday, May 18, 2009

Eligible Renovation using the 203KS

FHA 203k / Home Renovation

Purchase and Rehab with ONE loan and ONE closing

Also available for Refinancing of existing owner occupied Properties

Example of a 203K Streamline

Household improvement up to a maximum of $35,000. Home purchase with 3.5% Down (Can be gifted)

HUD has defined eligible renovation as:


  • Repair/Replacement roofs, gutters, and downspouts

  • Repair/Replacement/Upgrade of existing HV AC systems

  • Repair/Replacement/Upgrade of plumbing and electrical systems

  • Repair/Replacement of existing flooring

  • Minor remodeling such as kitchens, which does not involve structural repairs

  • Exterior and interior painting

  • Weatherization: including storm windows and doors, insulation, weather stripping, etc.

  • Appliances - Purchase and installation are included. Appliances may include free-standing ranges, refrigerators, washers/dryers, dishwashers, and microwaves

  • Lead-based paint stabilization or abatement of lead-based paint hazards

  • Repair/Replace/Add exterior decks, patios, porches

  • Basement finishing and remodeling, which does not involve structural repairs

  • Basement waterproofing

  • Window and door replacements and exterior wall re-siding

  • Septic system and/or well repair or replacement

  • Improvements for accessibility for persons with disabilities

  • For lead-based paint stabilization costs above and beyond that paid for by HUD when it sells real estate owned (REO)

    HUD has defined Ineligible Renovation as:

  • Major rehabilitation or major remodeling, such as the relocation of a load bearing wall

  • New construction (including room additions)

  • Repair of structural damage

  • Repairs requiring detailed drawings or architectural exhibits

  • Landscaping or similar site amenity improvements

  • Any repair or improvement requiring a work schedule longer than six (6) months

  • Rehabilitation activities that require more than two (2) payments per specialized contractor

    Additional Types of Home Renovation Products



    Fannie Mae Home Style



    Tuesday, May 12, 2009

    News from Keller Williams Carolinas Region

    Below is an email about the Keller Williams office s in South Carolina and how they are helping the community.

    Brian J O'Shea


    843.416.2057 phone

    843.416.2257 fax

    E Mail : 


    If you know someone needing Real Estate information or help, please let us know.

    Referrals are how we do business.



    From: Katie Badger
    Sent: Tuesday, May 12, 2009 5:03 PM
    To: Charleston-East
    Subject: News from Keller Williams Carolinas Region



    Carolinas Region Newsletter 



    May 2009 



















    Family Reunion Registration


















































    Janet's Photo Resized A message from...

     Janet Faulk, Regional Director


    I would like to Thank each and every one of you who will be supporting RED DAY.  You have truly touched and warmed my heart.  I am so happy to tell you that 100% of the Market Centers in North and South Carolina are doing great things on May 14th.  We are proud to be in business with you.  Each of you have made a difference in many peoples lives.  This is the true culture of our Company in motion.  So...on Thurday have fun, enjoy and reflect on the contributions and gifts that you have given your community. 


    Quote of the Month: 


    Thousands of candles can be lighted from a single candle, and the light of the candle will not be shortened.  Happiness never decreases by being shared.



    ShiftLogo  SHIFT 2:  OVERDRIVE 

       Presented by:  


         Gary Keller, Co-founder


        Chairman of the Board 

      Keller Williams Realty



    You came to the 2008 Shift Tour.  Why come back?  Ask yourself...

    • Are you  holding your money accountable?
    • Is every one of your listings priced in the market?
    • Are your lead generation efforts producing the RIGHT leads?
    • Do you know the right scripts for buyers who want to wait?

    In response to Gary's statement from Family Reunion 2009-- "the next 180 days will make you or break you"--there is an urgency to act.  This tour addresses the select tactics that are most critical to take action on now!


    What's different?  A focus on you, a focus on your local market conditions, and activities based and action oriented.  



    • FamilyReunionLogoFAMILY REUNION ~
    •  February 20-24th, 2010




    Registration per attendees is $499 through

    February 19th, 2010

    Registration will increase to $525 beginning February 20th, 2010 


    This event is hosted by:

    Keller Williams Realty International



    Access resources for KW Commercial.  Questions on implementing?  Questions on the 7 recruiting sources for Commercial Agents?


    Log into KW Commercial using your regular username and password that you use for the KW Intranet.  On this site you can find:


    • Contact Info for KW Commercial Agents & CLC Members
    • Technology Quick Start Guides
    • Press Releases
    • Information on Training, Best Practices, Marketing and Vendors
    • Market Center and Regional information which include the Implementation Manual and Recruiting Information (recruiting PowerPoint, Commercial Agent Aplication and more)


    RED DAY in the Carolinas Region

    May 14th, 2009 


    Renew                           Energize                             Donate


    We proudly list below each Market Center and their contributions on RED Day!!!


    Asheville - ABCCM Christian Homeless Shelter, Blue Start Mothers (packages for troops overseas), Red Cross, YWCA, Mountain Housing Opportunity, Swannanoa Valley Christian Ministry, Animal  Compassion Network and City of Asheville 


    Burlington - Participating in a Habitat for Humanity Home Build and are in the process of raising $3,000 for Habitat by selling shingles to families, friends and clients 


    Brevard - Sponsoring a "KW Garden for Life" where produce grown will support Bread of Life, an organization who helps serve the community 


    Cary - Sponsoring a Food Drive for Western Wake Food Bank, providing dessert & entertainment for Heartsfield Assisted Living, clean-up and mulching at a local Cary park and a Red Tag Sale with everyone commiting to donate 20% of their proceeds to split between KW Cares and the local Cary Family Fund


    Chapel Hill - Will be reading and doing creative projects with children at a local hospital and will be collecting clothes for their "Dress for Success" Chapter


    Charleston, Mt. Pleasant and Charleston West - Mt. Pleasant  will sponsor a food drive for East Cooper Community Outreach and West  will be assisting the local SPCA collecting food and taking care of animals


    Charleston North - Volunteering at Carolina Youth Development Center to repaint the dorms (for abused children throughout the lowcountry) and also working with 'Keep North Charleston Beautiful' on a project at the Danny Jones Municipal Complex


    Charlotte ~ Ballantyne - Will be supporting 3 local state funded nursing homes with a total of 176 residents who need throw blankets, socks and slippers.  A local nursery will be donating plants to the nursing homes.


    Charlotte ~ South Park - Agents will be collecting food for Second Harvest and pet supplies for the Humane Society


    Charlotte ~ University - Will be volunteering at the Morgan School for disadvantaged youth and will be sponsoring a car wash and bake sale


    Columbia - Will be collecting food donations in support of Harvest Hope Food Bank


    Durham - Volunteering at Duke Children's Hospital by reading to the children


    Fayetteville - Volunteering at the City Rescue Mission feeding the homeless


    Fort Mill - Will be assisting an elderly woman who lost her husband last year by repainting the exterior of her home, doing clean-up and installing landscaping


    Greensboro - Giving blood, sponsoring a sock and shoe drive, volunteering at the animal shelter, care packages for the troops, taking pets to nursing homes and preparing meals for the elderly


    Greenville - Will be donating their time for Habitat for Humanity


    Greenville  Central - Sponsoring a Parking Lot Sale with all proceeds going to KW Cares in honor of Mo Anderson


    Greenville Upstate - Hosting a community-wide thrift sale for KW Cares and volunteering on a project with United Way


    Hendersonville - Collecting food for Henderson County Schools Back Pack Program (for childen who go hungry on the weekends) and working with the Council of Aging by assisting with minor house repairs and yard clean-up


    Hilton Head - Will be partnering with United Way working on several different activities under the United Way umbrella in both Blufton and Hilton Head


    Kernersville - Volunteering will take place at the Second Harvest Food Bank in Winston-Salem  sponsoring food donations and teams of four to help pack boxes


    Lake Norman ~ Cornelius - Will be sponsoring a fundraiser for the new Cornelius Animal Shelter which is currently under construction.  They  will be selling BBQ sandwiches to raise funds & assisting with Adoptions from 11:30-3:00 pm

    Lake Norman Mooresville - Will be collecting gently used clothing, shoes and accessories and are giving back to the community by allowing people the opportunity to shop at the KW Closet

    Myrtle Beach - Volunteering to clean up creeks, roadways and public areas in the Triangle and collecting food for local food banks

    New Bern - Is planning a Literacy Awareness event at Union Point Park involving the Literacy Council, Library, Fire Department and The Little Red Bookmobile and inviting area pre-schools, daycares and younger school age children

    North Raleigh -  Will be planting trees at the Walnut Creek Softball Complex and are planning a blood drive at a local hospital

    Pinehurst / Southern Pines - Will be providing entertainment (piano and singing) to uplift the spirits of the Pinelake Rehabilitation Center and will be spending time visiting with the residents

    Spartanburg - Will be supporting The Boys Home at Glen Springs Academy by  donating clothes and personal items and furniture

    Union County -  Will be sponsoring a local food drive

    Wilmington -  Will be volunteering through a United Way appointed project.  Additionally, they will be planting trees at the Walnut Creek Softball Center and are  working on a Blood Drive.

    Winston-Salem - Is teaming up with the Bethesda Center for the Homeless for an Art Exhibition that will raise money for the Center.  The photographs are the work of the homeless or formerly homeless men and women who are clients of Bethesda Center.  KW is the underwriter and will be at the center to help hang the photography and place exhibitions. The community has been invited to attend and purchase art.  Funds raised will be designated to aid clients who are moving into permanent housing.



        THE BOOK CORNER...  





    Janet's Recommendations:


    1.  Mother Teresa - Her Essential Wisdom by Carol Kelly-Gongi

    2.  The Maxwell Daily Reader by John Maxwell


    Mike's Recommendations


    1. Mind Gym: An Athlete's Guide to Inner Excellence by

       Gary Mack

    2. The Richest Man in Babylon by George S. Clason


    Upcoming Events 



    May 14, 2009 - RED Day for Mo Anderson


    May 21, 2009 - Eagles Nest Call at 2 p.m. (512-225-3036, Code 640821#)

    May 28-29, 2009 - Train the Trainer with John Prescott, Raleigh, NC

     June 25, 2009 - SHIFT with Gary Keller, Cary, NC -- 7:15 a.m. - 11:45 a.m.


    June 25, 2009 - Leadership (to follow SHIFT) 1:00p.m. - 4:00 p.m. 



    Birthdays for May


     May 8th - Matt Walley, Team Leader, Hilton Head

    May 15th - Suzanne Ludwig, Carolinas Regional Office 

    May 16th - Mike Tavener, ROP, Asheville

    May 20th - Katie Farr, DOFI, Charleston West

    May 26th - Patti Teague, TL, Burlington




    Contact Info

    Debbie Osborne, Carolinas Regional Assistant




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