Real Estate News

It’s not a seller’s market for everyone

Justin Sullivan/Getty Images  

Have you heard? It’s a seller’s market. Well, in most zip codes at least. But a hopping homebuying season doesn’t necessarily mean your home will go well over asking price just by putting up a For Sale sign. There’s still plenty a seller must do if they want to get the best price for their soon-to-be-former digs.

Here are 50 things to do if you plan to sell your home this spring.

1. Learn the market

The reports of a seller’s market are greatly exaggerated — which is to say every zip code is different. If you want to expedite a sale, your “property has to be marketed properly and be priced appropriately,” said Glenn S. Phillips, CEO of Lake Homes Realty.

5 Views, 0 Comments

apply with two lenders at once

Should You Two-Time Your Mortgage Lender?

Your home is one of the biggest financial investments you will ever have. As a homeowner, you could have a mortgage loan for many years to come, possibly even decades. But while it makes sense for to shop around for the best possible deal, is it okay to apply for a mortgage with two lenders at the same time?

The Impact Of Multiple Credit Inquiries

In previous years, having multiple mortgage applications meant multiple credit inquiries. Credit inquiries occur when a lender pulls your credit.

For most people, a mortgage credit inquiry is known as a “hard pull” against your credit. Hard inquiries negatively impact your credit score by three to five points.

Multiple inquiries would be potentially

5 Views, 0 Comments

The Foreclosure Crisis: 10 Years Later | Keeping Current Matters

CoreLogic recently released a report entitled, United States Residential Foreclosure Crisis: 10 Years Later, in which they examined the years leading up to the crisis all the way through to present day.

With a peak in 2010 when nearly 1.2 million homes were foreclosed on, over 7.7 million families lost their homes throughout the entire foreclosure crisis.

Dr. Frank Nothaft, Chief Economist for CoreLogic, had this to say,

“The country experienced a wild ride in the mortgage market between 2008 and 2012, with the foreclosure peak occurring in 2010. As we look back over 10 years of the foreclosure crisis, we cannot ignore the connection between jobs and homeownership. A healthy economy is driven by jobs coupled with consumer confidence that

5 Views, 0 Comments

foreign national mortgage

You Don't Have To Be A Citizen To Get A US Mortgage

There are two sorts of non-citizen homebuyer in the United States -- the resident who wants a primary residence, and the non-resident who wants a vacation property here. Each buyer may finance property with a foreign national mortgage, but the loans are not alike.

Permanent Resident Aliens

Both permanent and non-permanent resident aliens can obtain mortgages in America, pretty much like everyone else. They can even get FHA, Fannie Mae and Freddie Mac home loans with as little as three percent down.

The documentation requirements depend on the borrower's status.

If you're a permanent resident alien, you'll need your green card and your social security number. Your mortgage application

62 Views, 0 Comments

What Is The Average Homebuyer Tenure In The US?

We all know people who have lived in their homes for 40 or 50 years or even longer. They raised their kids there and plan on retiring in the same house. But that's not the average tenure.

It's the exception to the rule of how long people really stay in their homes, according to many studies and trends done on homebuyers in America.

What Affects Your Tenure In Your Home?

So many things can affect how long people stay in the homes they buy.

They might have to move because of a job or a sick elderly parent a few states away. They might need a bigger or smaller home depending on the size of their family or their needs. Or they might just want a whole different style or want to move into the

65 Views, 0 Comments

There are a number of reasons why people move during their senior years, from transitioning into a care facility to moving closer to family and friends. No matter the reason for their move, most seniors who relocate choose a smaller home for their post-retirement years.

Living in a smaller home frees up funds for travel and leisure, reduces the demands of house and yard work, and lets seniors retain their independence as mobility wanes. But there’s one big disadvantage of moving into a smaller home: Downsizing.

While downsizing is a great choice for seniors, it can also be a burdensome and emotionally draining task. However, there are a few tips you can follow to keep the process manageable.

Take Your Time

Your house holds a lifetime worth

65 Views, 0 Comments

When your home appraisal falls short of the purchase price

What Is A Home Appraisal?

A home appraisal is the process by which a licensed person assigns a "fair market value" to a property.

Appraisals are performed by professionals known as appraisers and, with photos, research, and analysis, home appraisal reports can sometimes stretch to 30 pages of more.

The home appraisal process helps to determine whether a home buyer is over-paying for a home relative to similar for-sale homes. This protects the buyer, refinance applicant, and the mortgage lender providing financing on the home.

Home appraisals are used for refinance loans, too.

Depending on a home's appraised value, a borrower will get access to different mortgage rates and options; and, may even get to submit less documentation as part

46 Views, 0 Comments

real estate terms

Important Terms You'll Hear Your Real Estate Agent Use

There’s a lot to know when you’re buying real estate. This high-ticket purchase could be the largest investment you ever make. You can’t afford to let things get lost in translation, especially the language of the deal.

However, some real estate agents speak in industry lingo that brings back your worst high school foreign language class memories. It’s not their fault. Those confusing terms became permanently etched in their brains when studying for their real estate licensing exams.

While you might empathize, you can't be bamboozled or intimidated by jargon, because these terms can affect your financing. This plain-English guide is a strong start.

What Is Real Estate?

No, it’s not

63 Views, 0 Comments