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Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to…

Source: Reuters News, Corbett B. Daly (01/19/2010)

Required if you are purchasing a home…

…between the 91 – 180 day after the seller acquired the property.
…where the purchase price is equal to/more than 100%

What does getting back to the basics mean for you?  When I stop to really think about it, it’s all about setting a strong foundation for whatever I’m working to accomplish.  Sometimes, it is almost feels like taking it back to “simple – stupid” – – so simple I wonder if it is a waste of my time? 
Well, the answer is no, it isn’t a waste of time and here’s why.  We set out to learn something new /or accomplish a goal, so we work and work and work only to reach a certain level and then we hit a wall.  It seems that no matter what we do our life isn’t working in that area.  Ergo, back it up.  Meaning, somewhere in our process is a misstep, an old hidden belief /or habit that isn’t serving your intention.  It’s time to peel the onion all the way down and then start anew. 
I’ve always like the dance metaphor of the Cha Cha – basic step of: one two, one two three.  Once the basic step is ingrained in your body, you can begin to do twists and turns, improvise to your heart’s content upon the basic foundation of the dance.
In starting anew, I’m not talking about throwing the baby out with the bath water.  You retain what you know, and then it is added to the new perspective that you gained through the journey.  It is the entire process, no short cuts, that lays the foundation grounded in more perfect clarity.  The direction and outcome may be entirely different from your initial plan, but with a stronger foundation you are then able to build way beyond anything that which you imagined before.  Believe it or not, this method is a lot cleaner and faster, than just picking out what you think the glitch may be only to keep repeating the problem.
Real estate basics for the consumer: (1) hire the right Realtor, (2) get your loan pre-approved by a qualified lender, (1) form the plan (2) work the plan (3) close the deal —- Cha Cha Cha !

The month of January should have the National designation as the month of “Taking It All Off”.   Whether it is a few extra pounds gained over the holidays (plus a few more in my case) or taking off undesirable labels that we place on ourselves or others.   January is a month to eliminate and  release the old that is not serving you and placing in its stead thoughts and actions that supports the direction in which you truly wish to thrive. 
How does this relate to real estate?  Well, all of this takes a plan.  Then it’s all about working the plan, forming the new habits that promote the actions that create the experiences to successfully achieve your goals.  Just setting the intent is a good way to start.  Also, connecting with like minded folks that support your intent is extremely powerful. 
A plan founded in a concrete strategy will work – if, the big IF, you work the plan!  In some cases a qualified professional to assist you can well be worth the investment to help you achieve your goals.   Whether it is a nutritionist, golf coach or a Realtor, professionals as such can help you create the best plan for your individual scenario and help you stay on track til completed.   
For me, my food plan is becoming more of my lifestyle and quite honestly, I can use all the help I can get – so I signed up with Jenny Craig and now working the plan.  I’ll let you know how it goes.  A good case in point,  I have a  client who was truly committed to owning his own home.  We put a working plan  in place based on his scenario - which by the way was a four year plan – after which he became the proud owner of his first home.  That was three houses ago!   
So, set the intent, engage liked minded folks/professionals,  form the plan, work the plan and create the experiences to achieve your desired goals!   
Congratulations in taking it all off in 2010 !

Whether you are the Buyer or Seller, the property inspections will give you more negotiating power, and with that, you get more money in YOUR pocket, either saved or made.