Short sales require special skills of real estate agents. To be an effective short sale agent, an agent should seek as much education in the short sale arena as possible. Most real estate agents can learn to do short sales and most are well intended, but without a proper background in short sales, an agent [...]
What is a Deficiency Judgement?
What is a deficiency Judgment?
A Lender’s Options When a Borrower Defaults on a Home Loan
This will be the first of many blogs talking about “What Happens When A Borrower Defaults on a Home Loan.” When a borrower is no longer able to make payments on a mortgage on his/her home, the bank has 4 basic options in dealing with that property Loan Workout: Basically, a loan workout is any [...]
What information should you disclose about your home?
You should disclose anything about your home that might cause a potential buyer to have concerns or give them reason to consider not purchasing your home. The best way to approach it is to put yourself into the shoes of the buyer. What would you want to know? Everything, right? It is better to have [...]
My agent sends me lists of properties and tells me to drive-by.
Recently my real estate partner obtained a new buyer client who was “fed-up” with her former agent. The client was so “fed-up” with the agent’s lack of professionalism she decided to interview agents to represent her as her buyer’s agent. Congratulations to my partner who was the successful choice after six interviews with six different [...]
FHA Changes you should know about
1. The upfront mortgage insurance premium (UFMIP) will increase to 2.25 % up from 1.75% and FHA will continue to allow the financing of the UFMIP. 2. Borrowers with a credit score below 580 will be required to have at least 10% down payment. Borrowers with credit scores over 580 will remain at 3.5%. FHA [...]
How is the market??
How is the market?? Are you a buyer, a seller, an investor or a renter? It is different for each of you. As a buyer, you are probably wondering, if you should be buying now? Ask yourself the following question. Are the interest rates “true rates” or are they “incentive” rates? It is my opinion [...]
Sellers-Keep your homes on the market!
Sellers-the amount of buyer traffic right now through homes is the most I have seen in 23 years. The buyers are determining that now is the right time to buy. When you look at the combination of rock-bottom prices and historically low interest rates, the buyers are recognizing this opportunity is short-lived. Food for thought [...]
53 Offers, Can you believe it??
I thought this was incredible. My granddaughter’s daddy works in the foreclosure market. He went out for dinner the other night after entering a new listing into the MLS. When he came home his office floor was covered with faxes (all mixed up) representing 53 offers. Price $280,000. Ultimate sales price $370,000 (all cash) quick [...]
