texas: Who's committed....who's not? Has home buying turned into an episode of Survivor?
- 08/26/09 06:19 AM
After multiple discussions with realtors, insurance agents, and other mortgage lenders, it has become evident that all areas of the real estate industry are involved in a cloak and dagger style buyer. Whether they are driven by the insatiable need of getting the best price, cheapest costs, and largest house, is dependent on the individual scenario. What remains constant is the amount of effort professionals are having to put forth to gain the confidence and commitment of their clients. Is information becoming a real estate professionals enemy? The immediate (sometimes inaccurate/incomplete) information available on the internet can become the clients best … (0 comments)
texas: Credit Scores and Mortgage Rates - When GOOD isn't GOOD enough.
- 07/14/09 05:57 AM
Remember the days when a 700 credit score would get you the red carpet treatment and a 5% interest rate would line up so many clients the carpet would be threadbare? Not so in today's real estate arena. A 700 credit score gets you past the 1st step of qualifying, then comes the next step in what can be a gauntlet of qualifying parameters. The 5% rate is appealing to those who recognize it for what it is....a 30 year low...while others wait for the pending rate implosion that may never take place. The point is that lending parameters are ever changing and … (0 comments)
texas: Housing industry starts to thaw in the heat of a stabilizing market.
- 04/01/09 01:00 PM
It's been a while since headlines have leaned in a gracious manner towards the housing industry. Texas has earned a spot in the top 5 places to purchase per an article on CNN Money. Good news to the local DFW market and an indicator of things to come. Surprisingly, the news is flooded with above projection reports in multiple levels of housing. Rates are not just good, they are spectacular. Existing home sales were above projections and inventory declining. 5 of the major home builders are aggressively taking new market share as competition has been eliminated over the last 18 months. … (0 comments)
texas: Live Rent Free for 6 months? Maybe with the new 8,000 New Home Buyer Credit!
- 03/10/09 11:04 AM
Ever wish you could get someone to pay your rent for a year? Well..if you purchase a house this year, your wish may just be reality. Think of it this way. If you take the new $8,000 stimulus money for new home buyers and divide by 12, you are receiving a credit of $667 per month. That's if you divide by twelve. Realizing that if you start the process today, the closing would take place in April....and the first payment due in June....it changes the game dramatically. A first payment in June, with full $8000 (if qualified) received equates to a monthly credit of … (0 comments)
texas: Rate projection for April 17-23rd
- 04/18/08 03:37 AM
Yesterday the market was not for the faint at heart, but pricing remained almost unchanged from the prior day. As the week trend is viewed, rates increased by about .25 to rate. Here's a prediction for the next week. So quick pre-qualification and timely locking of the rate is essential for borrowers if debt ratio is of concern.
Have a successful weekend and remember, in today's market, there are still ways to qualify borrowers who are outside the standard box. It's a cooperative approach from broker/banker, real estate agent, and borrower that gets them to the closing table.
After multiple discussions with realtors, insurance agents, and other mortgage lenders, it has become evident that all areas of the real estate industry are involved in a cloak and dagger style buyer. Whether they are driven by the insatiable need of getting the best price, cheapest costs, and largest house, is dependent on the individual scenario. What remains constant is the amount of effort professionals are having to put forth to gain the confidence and commitment of their clients.
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