How to Buy a Home in a Seller’s Market. *continuation of yesterday’s blog Why Are Existing Home Sales Tanking? We all know the equation: low inventory plus higher prices equals a tight market. This setting can be a challenge for buyers who are competing for their dream home. According to the National Association of REALTORS® … Read More
Video: What’s the Word on Mortgage Lending Standards? Better. Mortgage lending regulations, along with mortgage interest rates, are fickle. Just when you think you’ve got a handle on them, they will change. Fortunately for home buyers mortgage lending standards have recently been changing for the better. At the end of last year and the first… Read More
Did an Unseasonably Warm Winter Cause Spring Home Prices to Escalate? We experienced an unseasonably warm winter, at the same time housing prices pushed higher, according to Clear Capital’s recently released Home Data Index (HDI) report, showing national quarterly home price growth at 0.9 percent. The Spring market boom started early this year and stronger… Read More
Inadequate Financial Knowledge Delays Many Home Buyers, Study Says. I’ve worked with countless mortgage lenders over the years and have come to depend on just a handful, to provide me with timely, accurate information, with no drama. I’ve always believed that the home buying process should not be stressful or confusing. But I’ve seen that… Read More
Rent vs Buy at the Tipping Point, 65 Percent into the Buy Zone. In several instances recently I’ve helped put folks into a home of their own for far less in monthly mortgage payments, than the cost of rental homes they were looking at or living in. In each case the homes they purchased were… Read More
2017 Sees Changes in Regulations for Title Companies. I’m very fortunate to have solid, dependable contacts in the Title industry. The folks at Pioneer Title are always willing and quick to resolve any issues I have. On the few occasions when I couldn’t get an answer immediately, they’ve researched and returned my call within a… Read More
5 Things to Review Before You Choose an Agent to List Your Home. My first and most important piece of advice… don’t just hire and agent to sell your home, interview them, and interview more than one. Let me give you a brief example. I recently spoke with a potential home seller almost by accident…. Read More
20 Percent Down is Nice, but NOT Mandatory Due to misunderstood government regulations instituted in the past two or three years that were meant to stabilize the housing market, many folks are under the impression that they must have 20% down to buy a home. This is categorically untrue. Not only do 3.5% down FHA… Read More
Interest rates on IRAs plummeted during the economic downturn but for the most part, they’re back. I’ve never been sure whether or not it’s a good idea to pull funds out of an IRA for the purpose of investing elsewhere. Having said that, you’ve got to live somewhere and I’ve always been opposed to paying… Read More
A Quick Outline of HUD’s Buyer Select. A few clarifications before we begin. If you’re not working in the Real Estate industry you may not be sure what a HUD Home is or how an FHA loan differs from other mortgages. These condensed definitions might help. FHA loan or FHA mortgage: An FHA loan is… Read More
