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$99 A Month for 12 Months – Not a Gimmick Thanks to $8,000 Tax Credit
You might have read the headline and thought, oh no! This is another one of those funky loans that change over time. Nope. It’s not a special loan, it’s another way to think about the $8,000 tax credit. If you take a $125,000 home’s payment of roughly $750.00 a month at 6% interest rate (fixed [...]
Sales Are Up 29% From Last Month | Real Estate Market Condition Report May 2009
Buying opportunities abound for value-savvy home shoppers in select markets across the nation, where prices have fallen to 2003 levels. While home prices are still declining on a year over year basis, they are falling at the slowest rate in five months, which indicates a degree of stabilization compared to recent months.
Attractive prices, [...]
Fannie Mae Policies On Short Sale Through Foreclosure
I often get asked about the difference between the impact of a short sale and a foreclosures.
Here is a summary of Fannie Mae loan policies that went into affect on August 1, 2008. This represents the time period that must elapse before borrowers can demonstrate they have reestablished an acceptable credit history after the occurrence of the bankruptcy [...]
How do I find homes on the market that have assumable mortgages?
This question came from a buyer and I thought I should share it publicly.
How do I find homes on the market that have assumable mortgages?
You can actually have your agent do a search for them through the MLS. However, most agents are so inept at even understanding if something is assumable and how the process [...]
Do Builder Incentive Affect Value?
It’s a common question and an even more common problem in today’s real estate market. Competing with the builder to sell your home. Knowing the builder’s position and promotions will give you a lot of information on how you should approach the sell of your home.
First things first, let’s do the short answer:
Do Builder [...]
Steve Doesn’t Get It
It happens more often than I care to repeat, but there are people out there that I really don’t want to work with. I’m sure those of you who are reading this article are not part of this bunch, but if you are no worries. My Christian natures pretty much require that I love [...]
Why Short Sale? Short Sale VS Foreclosure
It’s come full circle, I’m loving short sales from a seller representative standpoint due to the fact that it helps get them out of a situation that could devastating to them financially. For a long time I’ve not enjoyed showing short sales to my buyers, simply due to the hassle. Having closed several this [...]
Christmas WILL be Coming This Year!
With Rates in the low 5% and mid 4’s% (for some), buyers are back in a big way. Great Deals used to sell in 2 weeks or less are going the moment they are listed. Good Deals are now moving much quicker and homes are getting showings.
So Christmas will be coming THIS year as more [...]
Buyer’s First Step: Pre-Approval
One of the most important steps in the home-buying process is being pre-approved for a home loan. Many buyers apply for a loan and receive approval from a lender BEFORE searching for a home. This is called “pre-approval.”Why is pre-approval important at the beginning of the home-buying process?
Pre-approval can cut days or even weeks [...]
Fiduciary Responsibility
Real Estate across the country is different. In some state, it may take 90 days to close while in others, like Georgia, 30 days is the norm. Additionally, in some states you can close at a title company’s office, in other states you may get an attorney to help coordinate the closing while still [...]