buyers: Buy Then Bail... Go Straight to Jail (Do Not Pass Go) - 09/12/09 10:34 AM
As a mortgage person in the current wild and wacky real estate market, I sometimes get clients who want to buy and bail. So what's a buy and bail?
The call goes something like this:
"Hello, lovely mortgage person? This is Babs ( Buy and Bail Soon). My house is … (81 comments)
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buyers: Outsmart the Crowd: Skip the $8000 Tax Credit and Wait to Buy - 09/07/09 12:11 PM
You are a first time buyer who has a sore butt. Why? Because you have been sitting on the fence all year long.
Could you be the smartest first time homebuyer out there?
Consider what happened when CASH for CLUNKERS overheated the demand for cars (just like the FIRST TIME HOME … (164 comments)
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buyers: My Pre-Internet Buying Experience: So SLOW. So STUPID. So Amazing that ANYONE Bought a House - 09/01/09 02:54 PM
My husband and I were moving back to California in one month and I was desperate.
I was not a real estate agent or a mortgage person in those days. I was just somebody who had sold her Dallas house, and was R-E-A-D-Y to buy.
No one "researched properties" in those days. How could … (9 comments)
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buyers: New Bill Seeks to Extend (and Expand!) the Home Buyer Tax Credit - 08/25/09 04:00 PM
Okay, the name for this new bill may not be as catchy as "Cash for Clunkers" but you gotta love it:
Home Ownership Moves the Economy(HOME) Act of 2009. HR 2801 was introduced by Howard Coble (R-NC).
It would continue the current tax credit for first time homebuyers set to expire on December 1, 2009, with … (178 comments)
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buyers: Is It Time to Kick Our Addiction to 30 Year Mortgages? How 15 Year Mortgages Could Save The Day - 08/25/09 09:57 AM
Is it time to kick our addiction to 30 year mortgages? Could it be that 30 year mortgages are harming our industry by contributing to negative equity situations faced by so many homeowners?
To answer these questions, we only need to look at the auto industry, a place where no one … (26 comments)
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buyers: Why Recommending A DIRECT LENDER Could Make You Choke on Your Coffee - 08/21/09 02:27 PM
Why do Realtors like to recommend DIRECT LENDERS?
Could it be that somehow the lenders who are dumping foreclosures have brainwashed Realtors by insisting that anyone making an offer must be approved with a DIRECT LENDER?
Or is it because you believe that an approval from one of those BIG BOX … (56 comments)
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buyers: Inman Connect Take Away: The Social Media Explosion! You Gotta Be One of Their Peeps If You Want to Be Their Agent - 08/11/09 10:53 AM
If you are a regular reader of Mortgage Advisor, you know I actually WON my ticket to Inman Connect from the Real Estate Tomato.
To Jim Cronin, and the Tomato Crew, thank you.
I say this even if Jim's blogging presentation at Inman was waaaaay over my head (Mike Mueller, you … (80 comments)
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buyers: Seller Credits: Playing Footsie Under the Closing Table Or Playing by the Rules? - 07/16/09 01:05 PM
Recently, a featured post told the story of an agent who decided to "SAVE" a real estate sale because the lender refused to allow a $7000 credit. He believed it was okay to exchange some funds under the table to solve this problem.
Ha! We knew better over here at ActiveRain. Just … (64 comments)
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buyers: Why You Need A Barf Bag When You Apply For A Mortgage - 07/09/09 10:58 AM
Because I am in the trenches of mortgage madness daily, let me just tell it like it is: Getting a mortgage these days is NOT A PLEASANT THING.
Why is this? Because quite honestly, BANKS ARE NOT A PLEASANT THING.
They are woefully understaffed:"get in line, we'll get to you when we … (20 comments)
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buyers: What We Don't Want to Admit: Teenagers Have Sex, And FSBO's Need Realtors - 07/08/09 05:15 AM
Okay, I know as real estate agents the last thing you want to do is ENCOURAGE FSBO's (or encourage a fee that is less than your standard commission).
So even if there ARE ways to pay a real estate agent in a FSBO transaction, you wouldn't want to blab about it. … (88 comments)
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buyers: 8000 Reasons Get Your Butt In Gear: Deadline for First Time Homebuyer Tax Credit Looms - 06/25/09 12:46 PM
First time home buyers: Are you still at the computer, doing endless "research" on how to snag the $8000 TAX CREDIT for buying a house this year?
Does the November 30th deadline seem like a million years away as you think about fireworks (not turkey leftovers)?
First time home buyers: Get … (46 comments)
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buyers: Is It a Tax Credit? Or Crack Cocaine for Real Estate? The Price of Addiction - 06/17/09 05:01 PM
This was easy to predict: There is already an effort in Congress to extend the $8000 tax credit for first time buyers (which expires Nov. 30, 2009) to buyers of ALL houses in 2010.
There will be some form of rebate in the year 2010 because the real estate industry will … (76 comments)
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buyers: Taking Buyers Hostage: The Somalian Pirates Who Have Hijacked the Real Estate Industry - 04/21/09 02:59 PM
"We need to make sure the buyer is qualified before we take the house off the market". Do you think that is real reason banks insist they need to approve your buyer ALL OVER AGAIN?
That would be like the Somalian pirates telling the ship captain they are coming aboard his ship to "inspect his cargo".
"But", … (45 comments)
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buyers: You Never Forget Your First Time: Has The Romance Gone Out of Being a First Time Buyer? - 04/09/09 11:39 AM
I was a brand new real estate agent, and must have looked pretty ridiculous in my miniskirt, long blond ponytail, driving an over-sized and totally inappropriate white Chevrolet Impala (which was dubbed the "tuna boat" by my husband).
But hey, it was the seventies, the real estate market was rotten, and I was more than a little clueless. … (55 comments)
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buyers: Why Every Listing Deserves A Loan More Than A Chicken Salad Sandwich - 04/01/09 12:27 PM
Do you think it would be easier to sell a Toyota by offering your client a chicken salad sandwich? Or by having 3 payment examples already on paper....and a finance person ready to help them?
Recently, I walked into a 1.4 million dollar home being held open by some local Realtors. … (65 comments)
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