Changes in Mortgage Rules Helps Lure Investors

Realtors® Tom &Bev Herring  ~  Tulsa, Oklahoma Real Estate

Many real estate investors follow the guidelines of Fannie Mae, which is a major mortgage investor themselves.  And good news investors; Fannie Mae has recently increased the number of properties an investor is allowed to carry.  The property limit imposed since September stated that investors were only allowed to carry four financed investment properties at one time.  However, now things are changing and investors will be allowed to carry 10 financed investment properties at one time.

The limit change took effect in March, which was welcomed by many investors nationwide. 

Before the invest property limit was raised, investors who owned more than four homes couldn’t refinance one of their properties or add a new mortgage even if they had a down payment and perfect credit.  It was crushing many investors who wanted to add to their list of investment properties.

Now that the 10 financed investment properties are back, many investors are happy that they will be able build their investment list once again.

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Give Your Kitchen That Much Needed Facelift

As homeowners, we often want to redecorate to help change things up and give our homes a bit of a different feel.  The most common rooms that homeowners redecorate are the family room, bedrooms, office and living room.  Many times, the poor kitchen just gets left out in the process.  However, we are now seeing more kitchens getting facelifts than ever before.  We would like to share some of these ideas for giving your kitchen that much needed facelift. 

Many homeowners think that tackling the kitchen can be an overwhelming task, but that’s actually not true.  A small facelift can be very simple.

·         Match all your appliances.  Do you have mix and match appliances?  If so, decide on what you want to stick with.  Do you like stainless steel, white or black?  Stainless steel is the most popular choice for boosting a kitchen’s appearance.  Now, shop for bargains to save money.

·         Cabinets can be a big job or you can keep it simple by painting them.  If you choose to paint them, keep within the neutral shades.  If you are up for a tougher job, you can sand them down and re-stain them.  Be sure to check all your knobs also.  Are they up-to-date and do they match?

·         Replace your out-of-date countertops with new ones.  Many homeowners are opting in for granite.  It is very popular and quite beautiful.  They can also be pricey, so shop around for the best prices.  You may have to shop in nearby cities to find the best price.

·         Change your flooring.  If your floors are linoleum, consider replacing them with ceramic tile or hardwood.  The floor is an eye catcher, so be bold.

·         Splash some paint on the walls.  Stay in the neutral family when choosing colors for your walls.  This will be best if you ever try to sell the home.  Not everyone likes bright or dark colors, so it’s best to just stay neutral.  Also, consider adding a little backsplash to your walls behind your counters.  This really makes the room pop.  Simple ceramic tile backsplash is inexpensive to add, but looks like it’s worth hundreds.

If you ever decide to put your home on the market, these simple ideas can be very beneficial.  In the meantime, we hope you enjoy your kitchen’s new facelift.  It is sure to be the center of attention when you have house guests.

Realtors® Tom and Bev Herring  ~  Tulsa Oklahoma Real Estate

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