fixed interest rates: How to buy an Investment Property - the Nuts and Bolts Version!
- 04/07/14 06:17 AM
You hear the commentary – “Diversify your Investments!, ” “Buy Low and Sell High!,” “Real Estate is a Strong Investment,” etc., etc., etc. So, perhaps you are a 40 something year old and have wondered, How do I do that? Where are the risks, what would it cost, is it feasible? Relax. We will spell out some examples on how to do this, and demonstrate why so many investors like Real Estate in their portfolio! So, where do we begin? The easiest place to start is to figure out your budget. Investment homes have to be treated as if you will … (3 comments)
fixed interest rates: What do you mean the appraisal came in low - now what?
- 09/12/13 09:36 AM
Oy. We get the client pre approved, then find a home. We negotiate what appears to be a fair price. We submit the loan, and we get the appraisal ordered. When the appraisal comes in, it is below the purchase price. Now what?
Well, I was not expecting this.... Lenders prefer to use independant third parties for the appraisals, called appraisal management companies. These companies, called AMC's, assign the report to a licensed appraiser, who has to bid on the work (turn time, distance and so on). When the appraiser is chosen, that is the end of it from the … (6 comments)
fixed interest rates: Buying in the Bay Area - what it takes to have your offer accepted!
- 09/05/13 09:19 AM
San Francisco. San Jose, Marin and Sausalito, Berkeley, Palo Alto, Los Altos. The list goes on and on, with so many incredible communities there are many choices to live in the Bay Area. In fact, so many choices that there is almost a guarantee of competition for any home you look into, and that is where we begin. I am sold on the Bay Area, how do I "Get into the Market?"
Create a game plan - determine where you want to live, what you can afford and then build your team! A game plan implies that you have target … (4 comments)
I am considering buying, given how hot the market is, where do I begin? This is the fundamental question, and it breaks down into smaller questions of "How much can I afford?", "Where should I buy?", Is Real Estate a good investment versus the stock market, etc. When you are clear that you want to add to your real estate portfolio, or you are buying … (3 comments)
fixed interest rates: With interest rates rising rapidly, what do I do now?
- 07/26/13 03:03 AM
When interest rates change, they can change quickly. As a reference, see the interest rates tracked from May 3 to our current market. Rates on May 3rd were in the mid -low 3's, and are now in the low 4's. So, what happened? What does it mean to me? Have I missed an opportunity to improve my current loan? Is this a good time to purchase a home? Should I be looking at shorter terms like a 15 year fixed instead? We will address all of these questions and more. So, what in the world happened with interest rates? How did rates … (57 comments)
fixed interest rates: How do you and your mortgage broker enhance your businesses together?
- 07/25/13 07:04 AM
Most realtors that I talk with for the first time are generally surprised when I spend most of the conversation about how to work TOGETHER. Meaning, what value can we create that builds each of us more power in marketing, database management and building synergy in the relationship. Often times mortgage professionals have a habit of promising ordinary offers, like quick loan approvals, etc. The real test for mortgage pros is what can we do that will directly benefit both the realtor and the client? What would bring the client back ,and what would make the client recommend both of us? It has … (0 comments)
fixed interest rates: Just what impact have higher interest rates had so far?
- 07/16/13 04:43 AM
The answer is surprising, as currently the real estate market has been able to weather the dramatic jump in interest rates these past 60 days. As we see more time go by, will this trend continue? Just how much of the current strength is due to people panic buying due to the concern over continuously rising rates? The refinance market has dropped to near death and a trickle. What does the second quarter profit data that major banks are declaring mean and will it last? Since half of the quarter was at lower interest rates and many of the closed loans … (6 comments)
You hear the commentary – “Diversify your Investments!, ” “Buy Low and Sell High!,” “Real Estate is a Strong Investment,” etc., etc., etc.
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