Keep The Cart Behind The Horse! - 06/30/08 10:38 AM
It's probably no surprise that nearly all buyers require financing for their home purchase.  The real challenge is not so much in getting the loan as it is in finding the loan that's right for you.
The time to start your loan search is before you begin looking at homes.  After you've reviewed your loan options, you'll have a better idea of just how much home you can afford.
Starting early also gives you an edge when you offer to purchase a property, because most contracts will specify that you have to apply for financing within a certain amount of time, … (0 comments)

Ready to Open Up??? - 06/23/08 08:18 AM
There's been discussion among professionals in the real estate business for years now regarding the value of holding open houses.  The National Association of REALTORS® conducted a survey last year that revealed 80 percent of buyers used the Internet for property searches, but only 42 percent visited open houses.  What gives, and are open houses a waste of everyone's time?
The answer varies according to whom you ask, and there are good arguments on both sides.  Some agents feel that truly serious buyers do their searching well in advance, and choose to make appointments to see the homes that really excite … (0 comments)

Hello, FICO!! - 06/18/08 02:26 PM
 You'd have to be living on another planet if you haven't heard reports of subprime mortgages and their effect on the real estate industry.  If you're planning to buy a home, it's apparent that loan qualification these days is more challenging.  Sellers also feel the effect from fewer qualified buyers who can make a confident, full price offer.
 In preparing a loan application, the most critical factor is usually your FICO score (developed by the Fair Isaac Corporation).  You may be aware that your score can range from 300 to 850 points, and that your score affects your terms and interest … (0 comments)

Certify That Pre-Owned Home!! - 06/09/08 09:59 AM
 If you're looking for a competitive edge in the sale of your home, your real estate agent may have an unexpected suggestion.  Although many sellers assume that it is the responsibility of the buyers to pay for an inspection, having one performed before you even list your home can go a long way towards attracting a full price offer from confident buyers.
 Think about it.  If you're aware of flaws and needed repairs before you begin marketing your home, you can correct potential problems before the buyers even have a chance to think about negotiating a lower price for repairs.  Sellers … (0 comments)

Turning Rent Into Equity - 06/02/08 03:16 PM
Larger home inventories coupled with tougher financing requirements have made it difficult for both sellers and buyers to achieve their respective goals.  In the search for creative solutions, one has recently begun catching on - Rent To Own.
The advantage for buyers is that a portion of your rent payment is put into an escrow account to be used eventually for downpayment on a traditional loan.  You can begin building equity before you've even applied for financing!  If your credit is less than perfect or you simply haven't the funds available for a significant downpayment, this could be a great opportunity.
… (0 comments)

 

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