Central Florida Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Update: Moving out of Townhome
Ok, so it's been about a week since we found out our bad news *see post from last week*, and we both have digested it very well. Most of you ladies will be pleased to hear that we are in the works to purchase a home! We are officially pre-qualified for a home loan, and will receive our pre-approval letter tomorrow from our loan officer. Our realtor has been hard at work, and we should have a few homes to look at this weekend! I honestly did not think it was possible for us to buy a home, but with the FHA loan and the great incentives its all going to work out!
Thank you for all of your support and sending good vibes my way! 
Re: Update: Moving out of Townhome
Good for you guys Katie! Buying a home is stressful but VERY exciting at the same time! It is so much fun to paint the walls and decorate the home to fit you! Right now is such a great time to buy, rates are low, and prices are low!!! Keep us updated on what you find.
Just a tip....Both homes I bought were brand new. I know there are lots of possibilities for new homes now and sometimes new neighborhoods that have lots of vacant homes are offereing great incentives.(I've heard of builders offering new cars, polls ect...) Check out those deals. The buyers have the upper hand right now. Having a brand new house is nice because it's less work and it will be years before you have to worry about a major repair;-)
Congrats on your decision!
I agree with Mrs. DMC, our home was a new home too. It was an inventory townhome loaded with upgrades and the location is fantastic for us. We feel like our 1st home is our dream home with all that we have in it...No work, no painting, no decorating upgrades required, just furnish and move in.
Whoever picked the upgrades in our townhome designed it as we would have. We paid a little more than half of the highest sold townhome comparable to ours in the subdivision and we have a little over $60K in upgrades that were already installed when we put an offer on the home.
Then as I mentioned last week the builder paid every single cent of our closing and prepaid costs!!! We didn't use a realtor though...we did everything through them which was tied into our incentives we received and it worked out in our favor.
I can pass on the name of the builder if you're interested let me know...I'm not sure if the Nest still has PM...if it does, just send me one.
Good luck to you....although it can be stressful at times, it can be a fun experience as well
D~
Ooh forgot to mention, be very mindful of the incentives you accept in light of you getting an FHA loan. FHA has a thing called inducements and FHA is strict in terms of their loan guidelines/processing. It's the govt
If what the seller is offering is over and above assisting you with your closing costs and prepaid, it could be seen as inducements which means you may have to come up with additional $ towards your down payment in the value of what they may categorize as inducements.
For example if the seller offers to break your lease or pay your HOA fees for a year, FHA will see that as inducement and you may be required to come up with additional $ in the value of the HOA and lease breaking fee.
If they offer a pool, make sure the selling price and your offer price reduces by the value of the pool offer. Or to be safe have them pay all your closing costs, prepaid and buy down a point for your loan.
As I've mentioned before, read, read, read. Be an informed buyer with your realtor, the seller and your lender. Remember they all work for you...
If you have any questions, let me know. The process and all the research we did is still fresh in my head.
D~
I'm glad everything is working out for the best. I think you will love owning your own home, there is nothing like it.
Except when you can't sell it right now like me, but that is a whole nother story.....
It is definitely a buyers market!
Thanks ladies for all the helpful hints! Jon and I went to look at a few homes in a neighborhood we both love, and never thought we would ever be able to buy in! We found some gorgeous homes (in our price range), and then some beat up stripped down homes *due to foreclosure*. We found two homes that are not yet listed on the market, so our realtor is planning to do a little research for us... hopefully one of the two falls in our price range and we can make an offer.
We are also going with our realtor tonight to look at two more neighborhoods... one of the neighborhoods we are visiting tonight is a neighborhood we almost bought into during the boom... we are so happy we didn't back then! And its the only neighborhood I would be ok with in getting a town home! So i guess only time will tell on what we plan to do.
Of course it doesn't help that we need to be out of our rental by 5/31... I've asked Jon to talk to our realty company and see if they won't mind if we stay in for the month of June... as a tentative plan... I would hate to have to pack EVERYTHING up, and loose the food in our fridge/freezer. I am now very eager to use as much as we can from now until then! My husband thinks I've officially lost my mind! lol...