realtors: Beware of Hiring Unlicensed Contractors - 7 Reasons Not to Do it! - 09/10/10 12:07 PM
In today market, if you want anything done right, you need to hire a professional, preferably a licensed professional. As with any profession, contractors need to be educated, tested, bonded and licensed. With this training and certification comes the experience to be able to do the job right.
The same can often be said for most licensed professionals. Want to buy or sell real estate the right way - HIRE A LICENSED REALTOR! Need a good home loan - HIRE A LICENSED MLO! I could go on but I think I've made my point.
Via Kathy Smiley (Prudential California Realty):
Headline … (6 comments)
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realtors: Buyers, Don't Throw Your Realtor to the Sharks. He Really is on Your Side - 08/23/10 12:58 PM
As a mortgage gal who works primarily with buyers, I see and hear so many stories from my borrowers about the Realtors that they are working with. Sometimes, I even get asked for referrals for Realtors because my borrowers don't want to work with their Realtors anymore.
After a few very specific questions, I have often found myself saying some of the exact same things to my borrowers that Jane has blogged about. Guess my borrowers aren't the only ones who don't understand why they're having so much trouble getting into escrow.
ATTENTION BUYERS: IT'S JUST POSSIBLE THAT THERE ARE OTHER REASONS … (9 comments)
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realtors: UNDERWRITING REALLY ISN’T THAT MYSTERIOUS BUT IT’S NOT STANDARD BY ANY MEANS EITHER - Part 3 - 05/28/10 02:42 PM
In Part 1 and Part 2, I discussed the trials and tribulations of getting financing for a condo purchase as well as some of the problems with verifying a borrower's employment. In Part 3, I want to address something that Ralph Gorgoglione had asked about in his post and that was the new documentation requirements for FHA.
The truth is that there isn't really any new documentation being requested by just FHA (except in property flips) but to those Realtors who are not familiar with an FHA transaction, the additional documentation required by FHA may seem like new documentation requirements.
While there … (12 comments)
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realtors: ATTENTION REALTORS: You Need to WOW My Clients & Me to Get Our Referrals! - 04/12/09 03:26 PM
I just read this post called Mr. Lender, Here is Hawaii Randy's Tip for the Dayby Realtor Randy Prothero (Hawaii Randy's Blog). While I agree that we (lenders & mortgage professionals) need to serve of our clients (and yours) very well during the sales transaction (regardless of who referred them), I want to also pass the same message on to the Realtors and/or agents as well.
In today's market, mortgage professionals are just as much as a resource of referrals for Realtors as Realtors are for mortgage professionals. In many cases actually, mortgage professionals are probably a greater source of referrals … (10 comments)
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realtors: CITY OF SIMI VALLEY - First Time Home Buyer Program - Part 3 - 02/09/09 10:18 PM
The City of Simi Valley offers a First-Time Home Buyer Assistance Program to qualified low income first-time homebuyers who wish to purchase their first home in Simi Valley. I like this program because the Simi Valley city administrators for this program are not only the easiest ones to reach but they are also some of the friendliest ones to talk to and deal with.
The property may be a detached or an attached single-family home, a condominium, or a town house. The program is available to those who have not owned a home in the last three years. Single parents who … (18 comments)
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realtors: CITY OF PORT HUENEME - Home Buyer Assistance Program (HBAP) - Part 2 - 02/09/09 09:46 PM
The city of Port Hueneme actually has two different down payment assistant programs, the Home Buyer Assistance Program (HBAP) and the CalHOME program. Both programs are specifically geared to the low-moderate income individuals and families. Both programs have sufficient funds for new applicants and reservations although the CalHOME program is a little more limited than the HBAP.
Home Buyer Assistance Program (HBAP)
Down payment assistance is provided in the form of a secured 2nd mortgage with contingent, deferred interest in the form of an equity share in the property. Loan proceeds may only be used toward the purchase of a single … (0 comments)
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realtors: CITY OF OXNARD - Down Payment Grant - Part 1 - 02/09/09 09:21 PM
The City of Oxnard's program provides down payment assistance to individuals and families for the purchase of new or used homes, condominiums, manufactured homes or mobile homes.
The City will provide a matching grant up to $10,000 for down payment assistance and/or closing costs funds. For example, if the buyer contributes $3,000, the city will contribute $3,000; if the buyer contributes $5,000, the city will contribute $5,000 etc.
The term of the grant is five (5) years if the grant is $5,000 or less, and ten (10) years if the grant is over $5,000. The grant will be forgiven at the … (4 comments)
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realtors: ATTENTION VENTURA COUNTY REALTORS & THEIR FIRST TIME BUYERS: Down Payment Assistance is Still Alive in Ventura County - 02/09/09 07:12 PM
With the death of seller funded down payment assistance programs last fall, I thought that many of the local programs here in Ventura County would quickly follow suit. However, that hasn't been the case. Here in Ventura County, down payment assistance is still alive. When I first started this post about the different programs here, it soon became obvious that to put all of this great info into one post would definitely be asking too much for people to read. In other words, it was waaayyy too long.
It has been kindly suggested to me by some of my fellow Rainers … (0 comments)
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realtors: Not All Realtors are Alike. Are They? - 09/19/08 12:29 AM
Recently, I read a blog, a good one too. The writer, Realtor Pacita Dimacali, wrote about how a couple she was working with lost a home they really liked because they made a low-ball offer, regardless, of the advice that Pacita provided to educate and inform the clients of what they needed to offer to get their offer accepted.
Almost all of the comments to her post were from Realtors who were complimentary about her blog and agreed with the way that she had carried out her duties for her clients. However, there was one comment, from a consumer, that bothered … (8 comments)
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realtors: Got Rehab? - 08/30/08 07:18 PM
Buyers: having a hard time finding your "dream home" among the disgusting dumps you've been seeing?
REO Realtors: having difficulty selling that REO listing that is totally distressed that the bank simply will not allocate any funds for minor repairs?
I have your answer, the FHA 203(k). This little known HUD program is the perfect solution for the current housing market.
Many years ago, this program was much harder to do because of some really stringent requirements and guidelines. However, the FHA 203(k) is no longer the beast it used to be now that it's been revised to be easier to … (1 comments)
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realtors: The Good and the Bad of the New "tax credit" - 08/27/08 02:51 PM
Having researched and poured over the nitty gritty specifics of the recently passed housing recovery bill as well as read numerous articles and blogs on how this bill is going to be either the shot of adrenalin that this housing market needs to get going again or the virtual final blow that drags this market to depths we've never seen in our lifetime, there are two subjects that have definitely struck a nerve within the lending and real estate industry. The first being the elimination of the seller funded down-payment assistance (DPA) programs and the second being the first time buyer … (0 comments)
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realtors: One Reason You May Not Want to Low-ball that REO - 08/26/08 01:16 PM
After reading Carol Lee's Blog on "What to offer on a foreclosure" and a blog by Robert Rauf (Robert's Blog) on "Why you should not make a low ball offer", I felt compelled to write my own blog on "One reason why you may not want to low-ball that REO".
Like Carol Lee, I had also done some research on what many of the REO's, in certain areas in certain price ranges, were being sold at. For most of the areas I checked, my results were very similar to hers. In every area, there was the one property, maybe two, that was … (4 comments)
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