Sully Real Estate & Land, Inc.


Want to help yourself and your mortgage lender?Great News! Lower Fees!
More Savings And More Buying Power.The Federal Housing Administration will significantly lower the fees it charges borrowers, a move designed to save individual home buyers hundreds of dollars annually and help jump-start the housing market.

The bmortage insurance feesb on FHA loans, an especially popular source of financing for first-time home buyers, have increased five times since 2010. They jumped from .55 percent of a loanbs value to 1.35 percent. Those fees dropped to .85 percent which took effect the end of January. Projections are that the lower fees will entice 250,000 buyers to take out FHA loans in the next three years, and that the new borrowers will save an average of $900 annually.

On a $200,000, 30-year fixed rate loan with less than 5% down, a borrower would save $818 after one year and $7,421 after a decade. In pricey states, where FHA loans are involved in up to 15% of home sales, the move could save average buyers as much as $2,000 a year. FHA is to cut red tape also. Since the housing bust, lenders have been turning away buyers by demanding unusually high credit scores on government-backed loans.

The FHA mortgage insurance fee cut could help more than 800,000 homeowners save money. Federal regulators also loosened lending requirements this fall on loans backed by mortgage finance giants Fannie Mae & Freddie Mac.


dollar sign in lawn
6 Ways To Improve Your Home For $100 Or Less!

You may think that improving your home will deflate your wallet, but this is not always the
case. To help you out, here is a list of top favorite home improvement projects that can be done for
under $100. After all, who DOESNbT want to save money?

Turn A Closet Into A Home Office
This project will help you save money and will even add an extra
room to your home. Just unhinge the door then remove the closetbs
hanging rods and replace them with shelves. A deep shelf should be
used for the desktop and place 2 shallow shelves above for storage

Doorway Display
Create a unique look by installing
a shelf above the doorway and paint it
to match the trim. Add a touch of flair by
displaying pottery, storage, etc.

Boost Your Windows
Did you know you can make your windows look even bigger
than they actually are? Use hanging drapes at ceiling height to upsize
small windows.

Add Stained Glass Window To Your Bath
Itbs no surprise that stained glass makes any bathroom look
elegant. If you canbt find a window to fit perfectly, you can easily hang one from chains in front of the
existing window.

Wall-Mount Bedside Table
You can easily install a wall-mount end table in your bedroom by using wood corbels with a
slate roof shingle on top.

Add Detail To Your Bedroom
Pump up the color and detail in your bedroom (or any other room) by installing a chair rail.
Then, paint the wall below a soothing color. This project is an easy and inexpensive
way to improve your home.

Want to help yourself and your mortgage lender?Top 4 Home Design Trends For 2015Insights on the hot home decor
looks for 2015 and the 2014 trends
to replace.

Top 2015 Trends 1. Gold fixtures
2. Cowhide
3. Wallpaper
4. Blue accent colors
2014 Fads 1. Chevron prints
2. Solid painted accent walls
3. Matching furniture


Want to help yourself and your mortgage lender?

7 Questions To Ask Before Buying A Home

What Is This Property Worth In Today’s Market?

How Flexible Is The Seller On The Asking Price?
What’s Wrong With This House?

Is This Home In A Flood Plain?
Will The Lender Allow A Short Sale?
Are Any Foreclosures For Sale In The Area?
Do You Have The Paperwork?
Want to help yourself and your mortgage lender?

Micro Homes

Small apartments arenbt all that unusual in big cities where space is at a premium and an affordable pad often means cramped quarters. But in New York, a city notorious for tiny studio apartments, therebs a new trend on the horizon: micro apartments. Last year, city officials approved bMy Micro NY,b a 55-unit building consisting of studios, ranging from a mere 250 square feet to a (comparatively) roomy 370 square feet. To put the size in perspective: 12 to 18 of these apartments could fit onto a pro basketball court, which is 4,700 square feet in area.

While the units are certainly small, the building is designed to make use of common space, including a planned rooftop garden porch with picnic tables and a lounge that can seat 20 people for dinner or accommodate 40 guests for standing-room events.

Forty percent of the units in the building have been set as rent-restricted, meaning that tenants will pay based on their income. However, the remaining 60 percent of the units will be leased at market rates.

Forty percent of the units in the building have been set as rent-restricted, meaning that tenants will pay based on their income. However, the remaining 60 percent of the units will be leased at market rates.


Do you have any mortgage or real estate questions? Just call me!