More extended FAQ: What is Pre-Qualification? - 07/29/08 09:54 AM
Virtually any seller of property (or their agent) will require that you submit a letter of pre-qualification or pre-approval along with any offer. Pre-qualification is a process through which a loan officer assesses your borrowing power based on information that you provide regarding your income, assets, debt, and credit history. Typically, the lender will also pull a copy of your credit report from one or more of the official credit reporting bureaus. Based on this information, the loan officer will be able to tell you how much money you will be able to borrow and at what interest rate, assuming that … (0 comments)

Paul Hodosh's list for buyers...... - 07/28/08 10:23 AM
I'm a list person.  I like lists.  I love lists. 
I'm also a Realtor, and on my website I have made a list for buyers and how we work together to make the experience positive and rewarding for everyone involved.  So I thought it may be a good idea to share my 'buyer's guide' here on Active Rain.
I'll break it up into a few posts.  Did I mention I like long and detailed lists?
From my website:
While every buyer and every transaction are different, we will follow this general process:
1. Define and Prioritize our GoalsThe greater clarity you … (3 comments)

Age old question....is it time to buy? - 07/25/08 07:40 AM

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What is a short sale? - 07/19/08 12:31 PM
From time to time, I will use my blog to offer up answers to questions that are typically found on an FAQ. This allows me to go into a little more detailed explanation as opposed to the abbreviated for space version. Today, I'll answer a frequent question Realtors are getting in today's market.What is a short sale?A short sale occurs when a property is sold for less than the seller owes on their mortgage, and the bank agrees to accept the lower price as full payment of the loan. It is a way for a seller to avoid foreclosure on their … (0 comments)

Reality - 07/15/08 09:25 AM
One of the things that is important to me, is to always deal with the facts as opposed to blind optimism. The fact is that we are in a troubled economy. Here is a story from today's Providence Journal that bears this out.
R.I. economy at its worst in 25 years
July 15, 2008 By Lynn Arditi
Economically speaking, Rhode Island is in the midst of the “worst year” in a quarter century, according to a local index released yesterday. After a brief uptick in April, the Current Conditions Index in May plunged back to its lowest value in the index’s … (0 comments)

Considering Buying Property...Find a Good Realtor - 07/10/08 10:20 AM
When I began searching for a house several years ago, I was very defensive in my dealings with realtors, rejecting offhand any suggestions of signing up with an agent as my representative. Having always been very independent in my business and financial dealings, I wanted to maintain control, to avoid being limited or pressured in any way. In retrospect, I did myself a disservice because of my strong bias against "salespeople" and my lack of understanding of the home buying process.
In reality, representation by a competent realtor (known technically as Buyer Agency) gives you MORE control as a buyer. Your … (7 comments)

 

Paul Hodosh

Cranston, RI

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“Our world and the people in it do not always behave as we would like. For this reason, a well-developed and resilient sense of humor is an essential ingredient for health and happiness.”


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