Many of our readers ask us if appraisers use distressed properties (short sales and foreclosures) as comparables when doing an appraisal on non-distressed properties. We have posted on this issue on several occasions (examples: here and here )...
How Much Should You Put Down?
Like most questions, the answer is “it depends”. Today, I thought I’d give you some things to consider. Let’s begin the discussion with loans that don’t require Mortgage Insurance...
Short Sale vs. Foreclosure: A Short Sale Always Wins
Today’s ever changing real estate industry has brought upon some very challenging questions from our clients. We as counselors, want to put forth the best, non-emotional advice that we can, in hopes that we can help our clients and their families navigate the rough waters of the short sale...
Some Good News for Veterans!
Effective October 1, 2011, the costs associated with getting a VA mortgage are going DOWN! An overview: VA mortgages are bundled, securitized and sold in the secondary market with the backing of the Federal Government. In order to insure these mortgages, the government charges a type of insurance...
3 Things To Ask Your Lender When Locking a Loan
When getting a mortgage , one of the steps in the process is to “ lock your rate ” which is a simple agreement between you and the mortgage lender that your rate is “locked in” and won’t change between the time you lock it and the expiration date of the lock. ...
How to Save for a Down Payment
Whether buying a home is a goal way down the road, or you’re considering buying in the next few years, it’s never too late to start saving for a down payment. Although you can purchase a home with as low as a 3.5 percent down payment using an FHA loan (Federal Housing Administration),...
5 Things a Realtor Looks for When Listing a Home for Sale
After having toured thousands of homes over 10 years of selling real estate , there are certain things I look for immediately when assessing a property. ...
House Prices: Explaining the Recent Uptick
Several pricing indices have reported that, on a month-over-month basis, home values have ticked up slightly over the last quarter. This has caused some to call the bottom to the housing market – at least from a price standpoint. We must realize that prices are determined by supply and demand. ...
Should You Be LOCKING Your Loans?
Should you lock in the interest rate on your mortgage? A couple of things to consider...
Why Do People Actually Buy a Home?
It seems that every time we talk about real estate today the conversation immediately goes to the financial aspects of buying a home. Where are prices headed? Where are interest rates headed...
