Buyers all across the nation are making their dreams come true. They’re signing on the dotted line and grabbing hold of the keys to a family home.
Despite record low interest rates and enticing pricing, many potential buyers are delaying the decision to buy. Let’s take a look at the top reasons to own a home.
#1 – Building equity. Read More.
The nation’s extremely favorable mortgage rates sank even lower this week, setting records for both the 30-year and 15-year fixed rate loans.
The 30-year fell to 3.31% from 3.34% last week, according to Freddie Mac, the government controlled mortgage backer. The 15-year rate averaged 2.63%, compared with 2.65% a week ago.
According to Keith Gumbinger, vice president of mortgage information company HSH Corp., the current conditions mean it may make sense for current mortgage borrowers and new homebuyers to look at shorter-term loans. Read More.
Some families that lost their homes to foreclosure after the housing crash are back in the housing market, The Wall Street Journal reports.
Though it’s tough to put a number on the “boomerang” buyers, real estate agents, mortgage brokers and home builders all said a significant number of new buyers are those who went through foreclosure as recently as three years ago. Read More.
Homebuyers and refinancers seeking the best deal possible: You are running out of time.
While it’s too early to even consider calling this a seller’s market, buyers will have to work a little harder to find the home of their dreams at a bargain this fall. That’s especially true for those who want a newly built home.
You may get a good deal on a short sale as long as you are willing to wait. After new rules go into effect this fall, the short-selling process might be less painful than it is now. Read More.
Listing your home for sale in this depressed real estate market is like entering a beauty pageant. The contestants are all other for-sale homes in the area. The judges are potential buyers who will ultimately choose their favorite candidate. The challenge begins at the open house.
To improve your chances of getting ahead of the other contestants, you must prepare for the big day when you show the judges why they should buy your house and not the one down the street. Read More.
When listings are low, competition for listings is high. Why do some agents thrive in this environment while others see their business dwindle? Many make a crucial mistake.
They assume that since their listing inventory is low, they should reduce their advertising. After all, they have less to advertise. This is because they assume that the goal of their advertising is to reach buyers and sell their current inventory.
They forget that a major goal of their advertising is to gain and retain listings. Read More.
Educating clients about the audience they will be marketing to is one of the most important things a home stager can do. When you put your home on the market to sell, you should know that the next owner will likely be younger than you are. That’s why you should stop thinking about what you like or want in a home and start thinking about what your most likely buyer will want.
1. Stick with warm, neutral walls. Read More.
How many times have you heard this sentiment: The money in real estate is in the listings. It’s guaranteed cash at closing.
Conversely, we’re told, buyers can be brain-drains and time-wasters, spending your money through weekends, gasoline and snacks. I know that personally, I’ve never gotten over that one lady who accidentally (I hope?) scribbled all over my car’s backseat leather interior, having forgotten a ball-point pen in the back of her jeans.
But I still believe buyers can be wellsprings of forward momentum in our real estate businesses — if they are managed correctly. .
Here are three key elements to managing a buyer without losing your head. Read More.
This article shows several examples of real issues that can cause a mortgage application to be denied. Don’t let your clients face these scenarios:
Do I jeopardize my mortgage application by changing jobs before the loan closes? Yes. The underwriter approved your application based on your documented income covering two years or longer, from one source. At closing you must certify that all the information in your application continues to be true, which short of committing perjury you won’t be able to do if you switch jobs. Your revised job history will be numbered in days rather than years, which could cause a rejection.
Back in the pre-crisis days, underwriters had discretion to use their judgment in such cases. If the borrower was moving up to a better position in the same field, for example, they would let it go. In today’s market, however, underwriter discretion has been markedly reduced, and the likelihood of rejection is uncomfortably high. The prudent thing to do is to defer the job change until after the loan closes. Nobody will care what you do then. Read More.
For those trying to sell a house, what are some quick and easy DIY projects that can help sell your home faster? This article asked experts to share step-by-step instructions for completing projects bound to modernize a home, from resurfacing cabinets to eliminating home odors to re-caulking bathroom grout.
1. Create a welcoming entrance
If you don’t immediately impress potential buyers as they enter the home, you’re setting yourself up for a tough sell. Creating a welcoming entrance is arguably the most effective way to sell your home faster. Read More.