What really drives the Real Estate Market ??? 

                                                                        The Media.

There are so many potential Buyers out there that will not even try to buy a home today because of what they hear and read...  All I hear over and over again from potential Buyers..... "it's not a good time." 

                Is it not a good time because of what you know or what you've heard or what you've read?

                             Everyone has a different situation....Don't let the Fear Factor get in your way....

                                            It only takes about 10 - 15 minutes to get a pre-approval Letter

                                                                         Believe me, it's a painless process

Interest rates are still pretty low....Simply take ten minutes out of your day and call a mortgage company or lender and get pre-approved....You won't know unless you try.  Your Loan Officer will be happy to go over all your alternatives to structuring a good loan program to fit your needs.

Home Sellers want to sell their homes.  It is possible to negotiate the best possible terms to satisfy all parties involved....The Real Estate professionals have to work together as a team to make it work for everyone.

The reason I say that all the Real Estate Professionals need to work as a team is because the Loan Officer and Real Estate Agent need to strategically structure the best terms for the Buyer to make it work.  Real Estate Agents need to understand the underwriting guidelines for the specific loan program that the Buyer was approved for....example...What is the % of the allowable Seller Contribution and how can it be applied in the transaction?  Can it be applied towards closing costs ?  Can it be applied towards buying down the rate ?  Can it be applied towards required reserves?  Can it be applied towards the downpayment?  There are special programs for Buyers...ask the Loan Officer if these programs apply to you.

I worked with a First Time Homebuyer one time that informed his Loan Officer not to talk to any Real Estate Agents...I asked his Loan Officer why...The Buyer was paranoid about his finances and thought the Real Estate Agents would find out... I already knew he was a strong Buyer because he was putting down 20% and voluntarily told me his FICO score.

Buyer's Please Note:  The Real Estate Agent does not have access to your private financial information.  We only go by what the pre-approval letter states.  Real Estate Agents need to work with your Loan Officer to understand what the underwriting guidelines are for your specific loan program in order to structure the best possible terms on your behalf...  That is it.

Sellers Please Note:  The Seller does not have to reduce the list price to accommodate the Seller's Contribution.  If the home appraises with an increased value, then it can work... The Seller has to agree to increase the list price to accommodate for the contribution. 

              Don't let the media drag you down....Take ten minutes out of your day and get pre-approved.