Archives for FHA

Will my Home Sale close on Schedule?

14th August 2015 | Comments Off

That’s the million dollar question these days. Everyone needs to schedule their move. Sellers have to have the movers and buyers have to have their funds to close. What happens when the bank can’t get the papers done or there are still conditions to be met? Closing is delayed. And how many closings are delayed? Actually, in the real world, about 50% to 60% of the loans close on time. Others may be a day late, a week late or even several weeks late. Who is responsible for charges incurred if a buyer does not close on the home on
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Color Psychology for Homes

29th July 2015 | 2 Comments

I frequently suggest that homeowners paint before placing their homes on the market. Don’t be offended! I want my customers to understand “color psychology,” which focuses on color’s effect on human behavior and emotion. Since people’s reaction to color is immediate, color has a tremendous influence on the choices they make every day. Color choices are very personal and when selling your home, it’s critical to appeal to the greatest number of potential buyers. With so many people beginning their search for a home on the Internet today, your home and listing photos must stand out from your
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Flood Insurance for Coastal and higher risk areas

16th October 2013 | Comments Off

A little known act which is only now rising to the attention of all of the U.S. coastal cities is now becoming a nightmare to homeowners. The Biggert-Waters flood insurance reform act of 2012 is now set to affect millions of homeowners from the coasts of Maine down to Florida through Texas and then over to the west coast.
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How to Sell a House!

27th August 2012 | 2 Comments

Still a tough market. Words of wisdom: Listen to your Realtor. If he or she isn’t talking – get a new one. Getting your home sold requires effort. If you have your home on the market and there are no showings – there could be a number of things wrong. Price, condition (people see the photos online), poor marketing (poor photos), bad location or all of the above. To get your home sold now for TOP DOLLAR, your home has to have “WOW” factor. No “wow” factor and you’re just a plain Jane! Granite, travertine, stainless appliances, iron stair railings,
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Is it time for a Discount Broker?

6th April 2012 | 5 Comments

Why not hire a discount broker? One who charges less – in some cases, apparently a lot less. This has been asked time and time again. All agents are the same, right? Then why not just put my home up for sale with a discount broker and sell and save? After all, I’ve seen ads that say “We’ve saved our clients Thousands of $$ over conventional brokers..” First, let’s show you the break down of how agencies get paid. Let’s assume a $310,000 home sells for $300,000.00 and there is a 6% commission. Usually there is the listing broker and
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Short Sale Guidelines are Making a Difference

19th January 2012 | Comments Off

The theory behind short sales seems simple enough: If a homeowner owes more money on a house than the house can sell for, and the homeowner is struggling to pay the mortgage, the lender will allow the house to be sold for less than is owed. For obvious reasons, lenders are not big fans of short sales and often make it a complicated process. In April 2010, The Home Affordable Alternatives Program (HAFA) released new guidelines designed to streamline the short-sale process and allow more delinquent homeowners to sell their homes and move on with their lives. In its first
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The 203k Mortgage

24th August 2011 | Comments Off

Real estate consumers today can find ample value in distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, however, “distressed” speaks more for the condition of the homes than their recent financial histories, as they’ve sat empty for extended periods and have been subject to vandalism and theft. Those considering homes in need of repair and renovation should consider a 203k mortgage, which enables homebuyers to finance both the acquisition and rehabilitation of the property with just one loan. “FHA 203k purchase loans are the perfect financing
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Time for an Appraisal?

23rd August 2011 | Comments Off

One of the most important jobs for your real estate agent is to determine the value of your home by developing a Comparable Market Analysis, which will be used in pricing the home for the right amount. If your property isn’t attracting serious shoppers, your agent may recommend that you invest in an appraiser to get a second pricing opinion, as the appraiser will come in with an independent, unbiased opinion to help ensure your price is correct for the market. “An appraisal is important in today’s market especially, because it’s an objective and unbiased source of
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!!!! Make Your Offer Stand Out !!!!!

25th July 2011 | 1 Comment

Real estate consumers are realizing that there has rarely been a better time to buy a home. In fact, historically low mortgage rates coupled with lower home prices have even sparked bidding competition in markets around the country. A good home in a solid location may attract ample attention only hours after being listed. Home buyers can make their offers stand out from the rest through one or more of the following strategies: Price. Obviously, price tends to be the primary consideration for sellers. When you’re competing for a home, to get an edge, think about adding a
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Home Not Selling? It's Not Personal, It's Probably Price

16th June 2011 | Comments Off

Home sellers face a new reality as they look to move up, down, in or out of their American dream in today’s market. Consumers, particularly those who purchased their homes within the last five years, often find their options limited by a lack of equity. Those who can sell are sometimes numbed by deflated home prices and find it difficult to justify yesterday’s valuations with today’s reality. Many home sellers have dug in on price hoping to lose no additional ground. Others seem to have taken this market personally, letting emotions override analysis when setting price. Buyer
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