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Real Estate

Eileen M. Day REALTOR

"SWEAT EQUITY"

If you're one of the millions of first-time buyers who feel locked out of the home market because you can't come up with the sizable down payment, don't overlook something called "sweat" equity. In virtually every community r there are some "diamond-in-the. rough" homes — ones that are structurally sound but need extensive work to bring them up to full market value. Any Realtor who works in the residential market can point out these kind of homes. Many times you can arrange a low down payment loan if you can convince the mortgage lender that you have the capability and perseverance to upgrade the property. Be forewarned, however, that you'll likely be required to spend every available free moment working to upgrade the home, tearing out walls, perhaps rewiring, re-plumbing, etc. Obviously, if you're not skilled in such tasks, "sweat" equity may not be for you. For those who do persevere, the rewards can be substantial. If there is anything we can do to help you in the field of real estate please stop in at EILEEN M. DAY, REALTOR, the,Clopton House, Washington, Va., 22747. Phone 675-3033, We're hereto help.

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