Choosing a Realtor
It might seem funny that a mortgage guy has any advice on choosing a Realtor. The reality is; we work with Realtors all the time and know who knows what they’re doing and who doesn’t. That’s not to say that a new Realtor who is just starting out is not your best choice because sometimes [...]
New Disclosure Rules You Need to Know
This past month has brought with it more changes to the process from approval to closing that are designed to protect the consumer. Most of it has to do with the timeliness of presenting as accurate a Good Faith Estimate as possible before closing to prevent the buyer from those last minute heart attack moments [...]
Will the Stimulus Money End in November or be Extended
I’m not sure why this keeps popping up as a question but over the last two weeks I have been asked is the stimulus tax rebate will be extended into next year no less than 6 times. While it seems to everyone out here on the front lines that the government should extend this tax [...]
The Difference Bewteen Closing Costs and Pre-Paid Items
Many people contact me and want to know why the closing costs are so high? The reality is the closing costs actually run about 3 to 4 % of the purchase price on homes in the $125,000 range and up. They are higher for less expensive homes because there are fixed costs that make the [...]
When Not to Buy a House
Everybody is talking about how now is a great time to buy a house since there is the stimulus plan that let’s you get up to $8,000 back on a tax credit as well as rates that are still historically low. However, as much as that seems to be great advice, there are times that [...]
Property Issues are Starting to be a Problem
If you have been in and around the real estate industry for very long you will remember the time when everyone hated dealing with FHA and the appraisal process that was involved in getting this type of loan. Then several years ago FHA changed and the appraisal process was just about the same as [...]
Strong Housing Market? Where?
Believe it or not there are some places around the US that have strong housing markets. That doesn’t mean they are undergoing a boom of sorts like California and some other states did but it does mean they are holding their own and not suffering a downtrend like so many other places are [...]
What to Expect in 2009
Though no one has a crystal ball, there is a lot of discussion about the real estate and mortgage industry right now. I have heard things that seem to be rather outrageous, like interest rate going to 2 and 3% and things that seem more reasonable, like interest rates going to 4 to [...]
For Every Negative There is a Positive
What most of us have heard of and the news has certainly reported over and over again is the fact that there are, and have been recently, a historical amount of foreclosures happening in this country. That is not in question. However, what we have not heard about is the great opportunity for buyers [...]