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Home Owners And Home Buyers Will Need "Good" Realtors More Than Ever Now

By Renee Porsia
Short sales, loan modifications and foreclosures oh my!  Add in a boat load of new mortgage rules, regulations, restrictions and what you have is a lot of confusing information and if a home owner wants to sell their home, they better have a Realtor who is on the ball. Same holds true for home buyers. 
It’s not the same real estate market it was two years ago.  You can’t put a home up for sale, guess at a price, (high, I might add) expect it to sell and if by chance you do find a buyer willing to pay what you are asking then have it appraise.  Oh no, there’s a new sherif in town now and your Realtor better know the rules or you won’t be selling your home or buying your dream home.
Someone has to be able to make heads or tails out of all the new FHA mortgage guidelines, condominium rules and conventional requirements.
I recently had a bank issue a mortgage commitment to their buyer which had a long list of conditions that needed to be cleared but buried in all those conditions was the whopper of all conditions which was the appraisal.  Are you kidding me? A commitment from a bank ... more

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