Derick & Lyn Drumm - The Drumm Team

You've been renting.  You dream of one day owning a home, but just can't see it happening in the near future.  Why? Because you've heard that banks aren't loaning money.  You've heard that you need 20% down to qualify.  You've heard that your credit score has to be above 740.  Right?  These are ...

In today's market, I talk to a lot of homeowners who believe that the best time to sell and move up to a larger home, better neighborhood, great school district, etc. is when prices are rising (aka a seller's market). This couldn't be further from the truth!  It comes down to incredibly simple math. Let's assume that you ...

March 23, 2009 Today, details of the bank rescue plan were released.  Simultaneously, the stock market surged on this news and what the media is calling an unexpected increase in home sales (nationwide, existing home sales increased 5.1%).  This is the single most significant gain since 2003. Under the plan, banks will be able to sell ...

There may never be a better time for first time home buyers to purchase their first home.  Sadly, many that can afford to purchase a home are going to miss out.  Why? All I have to do to get the truthful answer is to look back at our first home buying experience.  You see, like many we were renting, young, busy and thought that we ...

Here's How the New $8000 Tax Credit Can Help 1st Time Home Buyers:The American Recovery and Reinvestment Tax Act of 2009, which is the part of the stimulus law that deals with the first-time homebuyer tax credit, changes the tax credit that is currently in place. Here are the details:The credit is for 10% of the purchase price, up to $8,000. ...

In this economy, the answer may surprise you. It is now! Let me explain. Since housing statistics first started being recorded with the inception of the VA loan program back in 1942, housing values have steadily increased at a rate of 3 to 5% per year. Between 2001 and 2005, housing values took off to an unsustainable level. Since then, they have ...

1.      W-2 forms or business tax return forms if you’re self-employed for the last two or three years for every person signing the loan. 2.      Copies of one or more months of pay stubs from every person signing the loan. 3.      Copies of two to four months of bank ...

Be sure you find a loan that fits your needs with these comprehensive questions. 1.      What are the most popular mortgage loans you offer? 2.      Which type of mortgage plan do you think would be best for us? Why? 3.      Are your rates, terms, fees, and ...

What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is ...

Check your home warranty policy to see which of the following items are covered. Also check to see if the policy covers the full replacement cost of an item. PlumbingElectrical SystemsWater HeaterFurnaceHeating DuctsWater PumpDishwasherStove/Cooktop/OvensMicrowaveRefrigeratorWasher/DryerSwimming Pool (may be optional) The Drumm Team - ...