How to Increase Inventory

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

Weekly Recap Mid Dec 2017

​The Tax Reform: Did you know that it wasn't TRUMP who introduced a reduction in mortgage interest due to lowering the qualifying loan amounts. The Senate and the House have passed their respective tax bill reforms and they are now in a review to merge the two.  Both plan to eliminate the state income tax deduction while each threatens real estate deductions. Many … Continue reading Weekly Recap Mid Dec 2017

Fannie Mae Raises Allowable Debt

As millennials come to market, many of them are carrying heavier than normal student loan debt.  With the large benefits of owning a home, Fannie Mae sought for a way to allow for more debt, like a student loan, and still approve a mortgage to create more buyers. You can follow more on this guideline change directly at Fannie Mae's website … Continue reading Fannie Mae Raises Allowable Debt

Appraisal Standards for Higher-Risk Mortgages Passed by FDIC

"U.S. mortgage lenders will get an additional year to implement new appraisal standards for higher- risk loans after regulators revised the Dodd-Frank Act measure to address concerns raised by financial firms". Creditors issuing loans at above-average interest rates that don’t meet the "qualified mortgage" standard will need to get written reports by certified appraisers who … Continue reading Appraisal Standards for Higher-Risk Mortgages Passed by FDIC