We all know inventory is tight in today’s market. Homes are selling fast and most list prices are being met. But in reality, inventory is tight in certain price ranges. How so? Let’s say your clients have been preapproval to buy a home in the $350,000 range. How many homes can you find right now … Continue reading How to Increase Inventory
Whether you’re thinking about buying and financing a condo or maybe you’ve got your eye on a home located in an area governed by a Homeowners Association, or HOA, beyond considerations such as price, location and other buying factors you need to know what you’re getting into. When buying real estate in what is referred … Continue reading Why You Should Read the HOA Docs Before Making an Offer
The Tax Reform and Home Ownership is like the left side and right side of your brain. They rely on eachother. Would a real estate mogul like Trump really hurt homeownership, lets see!
Did you know, young buyers are more qualified today than their parents were, and here's what to know! Money is half the cost for Millennials than it was for their parents. A $50,000 loan then is the same cost per month as a $100,000 loan now (simple math on lower rates). Also, the percentage of … Continue reading Millennials and Money – Cheap Rates under Higher Income
On June 30, 2015 Fannie Mae released some major improvements to their guidelines. Download the changed Fannie Mae Guidelines here. The biggest change that helps homebuyers is the new no equity in departing home guideline that will help a ton of buyers get out of an old home with no equity requirement (even if the … Continue reading Fannie Mae Guideline Updates
The Truth in Lending Act (TILA) and Real Estate Settlement Procedures Act (RESPA) promise to change how banks present disclosure materials on August 1, 2015. Prepare your loan officers and bankers with the following sample forms, FAQ sheets, webinars and other resources designed specifically to help bank officials meet compliancy by the August 1 deadline. … Continue reading Integrated Disclosure Rule: TILA & RESPA Updates
Having an experienced mortgage loan officer in your database can be a lifesaver. If you haven’t yet had an experience where an experienced loan officer seemed to pull a rabbit out of a hat and saved a deal that was dead, you will one day. Good loan officers know at the outset whether someone can … Continue reading Loan Officer Privacy Laws
If you’ve been thinking about refinancing your mortgage or are preparing to buy a home, you may or may not have heard about the new mortgage rules that took effect January 10 of this year. In 2010, as a response to the housing crisis of the last decade, Congress wrote the Dodd-Frank Wall Street Reform … Continue reading The Qualified Mortgage: What Is It?
Everyone likes to know what the future will bring. There’s a certain comfort in predictability. Sure, an adventure of any sort can get be exciting but certain things shouldn’t be left to chance. For example, if you want to take a trip somewhere that you’ve never been, don’t you want a map/plan? At least directions … Continue reading The Clear Path
The Internet certainly has its advantages. It seems that most anything can be researched, scoured and discovered simply by logging online and typing in a few keystrokes in Google. And if the Internet has helped any industry more than the real estate, I’d like to know. Real estate agents can post their client’s property on … Continue reading The Out-of-Towner