There are a large number of real estate posts that are published online each month that are not seen by many who may benefit from the information in the post.
A good number of professionals in the real estate industry hardly ever read content in places other than Zillow, Realtor.com and Active Rain. Because of this fact, I'd like you to review these real estate industry posts that I thought stood out for good reasons. I think you'll find the content very interesting and beneficial.
The Mortgage Profession
Getting into a career dealing with arranging the financing of a purchase or refinance someone's largest financial asset does not require a four-year degree or any college courses at all. Obtaining a license to originate mortgage loans is relatively simple considering all you have to do is pass an NMLS approved mortgage education course, pass a national and/or state exam, have a satisfactory credit history, pass an FBI fingerprint and criminal background check.
However, unlike a real estate agent, a mortgage originator has to complete annual continuing education courses in order to renew their license as well as a credit report check in certain states. Many would say mortgage originators are more scrutinized than real estate agents mainly due to the 2009 financial crisis and irresponsible lending practices.
Get a Loan from a Mortgage Broker or Bank?
This is a question that comes up often and will have leave room for a lot of debate. No doubt there are rock star loan officers who work for a bank or for a mortgage company where they broker loans. This article goes over the advantages and disadvantages for each. You’re getting some testimony from people who worked for a bank too. Take a quick read of the broker vs. bank controversy.
Are you in favor of one over the other? Did you know there is a hybrid of the two where you get the best of both worlds? Oh yes, it's a model that's been around before the financial crisis. In my expeience, it seems to satisfy (and surprise) real estate agents and closing agents to the tune of them providing positive feedback and recommending you to borrowers.
How to Build a Social Media Following.
Most loan originators are dumbfounded when it relates to social media. This is hard to understand because Facebook and Twitter have been available to the general public for 14 and 12 years respectively. That was before the iPhone made its debut. Of course, there’s some who really excelled on it but they are a small portion.
The average loan officer signs up to become a member of a social media network, and more often than not, they share their latest work-related post with their connections. This is not a good decision. The reason why is easy. A huge majority of people just don’t go to social media sites to learn about credit scores, interest rates, or down payments.
So what should a loan originator do on social media? The answer is actually quite simple. Your goal is just like when you walk into a realtor's or referral partner's office (with an appt.); build a relationship. How likely are you to respond to a realtor who just starts blurting out their new listing or a CPA telling you about some new tax laws and they don't know you at all.
Like a good salesperson, you need to connect with the person first before trying to sell them something. In this article you will see what social platforms you should use, and over 20 tips from successful real estate professionals to create a worthwhile social media account. To help your business grow and prosper take the time to nurture relationships and make them mutually valuable.
Mortgage and Finance
Can I Get A Mortgage Without Tax Returns?
Most experienced and successful real estate agents ask their new home buyer for a pre-approval letter before they start searching for a home. This step is necessary as it shows confidence to the home seller that the buyer is serious about the purchase and qualified to get their mortgage.
What lots of people are not aware of is the fact not all banks and lenders will approve everybody. Some borrowers' tax returns make them appear to not qualify because of all the legal deductions they take advantage. In the article you will discover how a borrower can get pre-approved for a home loan without tax returns to buy or refinance property.
Where to Get A Loan When You Don't Have a Job
A lot of times when you apply for a mortgage without a job at your local bank (large or small) they'll deny the loan application. Typically, banks are conservative in their underwriting and want to see the borrower has actual income. However, by going through a mortgage broker they'll typically have access to not one but two loan products that don't require your employment to be verified or even put on the application. In this mortgage post you will learn about primary residence and rental property mortgage loans as a financing option.
3 Reasons to Consider Not Paying Off Your Mortgage?
For those fortunate enough to buy their home and have a small mortgage balance or know they'll be able to pay it off soon and be free of mortgage debt here's some reasons to consider not doing that. As we all know real estate values go up and down, sometimes rise a lot faster than we think and drop as well during bad economic times.
Based on these facts and others what are the reasons to keep unused cash and pay the bank more interest? Just read this blog post at Bigger Pockets and useful comments by the community. It is definitely well worth a read.
General Real Estate Articles
Bidding Wars to Buy a Home
Usually, there are locations across the country where buyers compete in bidding wars, and have to put in their highest and best offer simply due to a lack of inventory. In some markets I work in like coastal cities in California and Florida, buyers tell me geting an accepted offer can become quite challenging depending on how close the home is to the sand.
In cities that are landlocked like Dallas, Austin, and Denver, people prefer to live close to parks, lakes, their workplace or the numerous local activities which means a more central location than cope with the increasing traffic by commuters.
So you don't want to be the person to lose out on a great home in an ideal area by just $5k-$10K. Learn some methods to be the winning offer and not waste time in a seller's market.
In Bill Gassett's in-depth article you'll enjoy and appreciate the insight and experience he provides to help you come out on top in a bidding war.
Listing Your Home for Sale? Photos are Important
I thought this post was very informative for people who think selling a home is so easy. Andrew Fortune goes over some of the nuances of prepping your home for photos. Photos do tell a story (or one-thousand words) so why not make that story the best you can. Read the article here.
Is the Real Estate Market Going to Crash?
When is a good time to buy real estate? Every new homeowner reads stories of the market is topping out or prices are too high. So they decide to wait and end up never buying a home. While it's true real estate values do go through cycles of ups and downs, on average if you buy real estate and hold on to it for ten years or more you will have built up some equity versus renting.
Buying a home is obviously not the same as renting. There are more expenses you are responsible to fix yet you do get peace of mind, potential home appreciation and have more freedoms to generate income from your property. Colin Robertson does a great job of covering historical trends, why a crash is not likely in 2019 and bidding wars.
Buying a Home Where I Can Ride My Horse
For people who have always wanted a property where they can ride a horse, you'll really come to appreciate the post by Joy Bender of San Diego who goes over 28 factors to consider when buying a horse property. She discusses accessibility, acreage, water, zoning and much more.
Help! I’m Working With the Wrong Real Estate Agent
Imagine you're ready to buy a home and you are working with an agent to represent you. There are many people involved in a real estate transaction. Of all the people involved you don't want it to be the real estate agent working for you. Michelle Gibson does a wonderful job of listing the signs you may not be working with a good agent.
You want an absolute professional on your side who is there full-time to answer your questions and guide you during one of the most stressful transactions of your life
Best Recent Real Estate Posts
Here are a few of the top Real Estate Blog Posts into the first quarter of 2019.
The post is from Debbie Drummond, a Las Vegas Real Estate agent, who reviews how you can prepare your home for your tenant and get the best return on your investment. Enjoy a quick read and browse some of her other articles on a range of real estate topics.
Here's a great comprehensive guide about moving to Dallas by Jeff Knox. You'll learn all you need to know about moving to Big "D". Jeff's post is very in-depth with sub-topics on the neighborhoods, style of homes, Dallas eateries, local entertainment and sports, and education.
Many real estate agents and loan officers market certain clients with ads that their new mortgage payment will be the same or less than your rent. In Stephen FitzMaurice’s blog he does a wonderful job on the surprise costs of homeownership that they should be aware of.