Search Homes And People's Blog


Comments

Post a Comment

Popular posts from this blog

1.25% Mortgage! is it possible??!!

"Option Arm" What You Need To Know Seems like we all want the latest and hottest "thing" these days, and even some mortgage loans are no exception. The lending industry seems intent on seeing everyone in America become a homeowner by introducing new adjustable rate loan products that give a false impression that home ownership is both cheap and affordable despite soaring home prices. Contrary to the good advice of many financial experts, more and more would-be and current homeowners are being lured into loans that can backfire and possibly even render you homeless in a few years if your income cannot keep pace with increasing monthly mortgage payments and a rising interest rate environment. One of these adjustable loan products introduced to the average consumer is the "Option ARM" home loan, also known by several names like "Pick-A-Pay Loan", the "Flex Pay Loan", "Flex Option ARM", and "Pay Option ARM", among others...
Read more

Have You Considered a Post-Closing Occupancy Agreement?

Image
It’s a crazy market out there. Buyers are doing anything they can to secure a home, but inventory is low because potential sellers don’t want to be buyers in this market. And when a seller does list their home, their biggest fear is they won’t be able to find a new home in the time they must be out of their old one. A post-closing occupancy agreement might just work for your buyer who’s looking to make a stand-out offer, and your seller who’s worried about the timeline. What is a post-closing occupancy agreement? A post-closing occupancy agreement is when a seller retains occupancy of the property for up to 60 days after closing occurs, the tactic isn’t often used, but in this market, brokers consider it an ace in the hole, if navigated correctly. Evaluate Not all buyers are good candidates for the post-closing occupancy agreement, and it’s important to understand the clients’ current living arrangements. If the buyers are living at an extended-stay hotel, Airbnb, month-to-mont...
Read more

Pricing your Home For Sale

Image
If you’re considering selling your home, one of the most important decisions you’ll need to make is how to price your home. Price too high, you may miss out on potential buyers or sit too long on the market. Price too low, you may leave money on the table. Here are some tips to consider as you work with your agent to price your home for sale. Ask for a CMA Ask your REALTOR® to provide a Comparative Market Analysis or CMA. In this analysis, your agent will compare your home with other similar homes that have recently sold. They can also weigh in unique features of your home, housing market trends, and desirability of your neighborhood for a comprehensive home valuation. All these factors are used to determine the best list price for your home. While online home value calculators can provide initial insight, they should not be used to price your home for sale. These calculators are only as good as the data provided. They cannot weigh unique factors, like special features of your...
Read more

Hail-Resistant Roofs: Fact or Fiction?

Image
Colorado often experiences severe  hailstorms  that can cause devastating property damage. The Rocky Mountain Insurance Information Association reports that Colorado’s Front Range and Wyoming’s eastern plains, commonly referred to as “hail alley,” receive the highest frequency of large hailstones in North America. Over the past 10 years, hailstorms have caused nearly $1.7 billion in damage to roofs and automobiles in hail alley. The damaging hailstorms generally occur mid-May through late July. Damages incurred to roofs during hailstorms can, however, be reduced with proper roof design and roofing product selection. A properly designed roof structure can substantially reduce hail damage. Several testing agencies have developed the following recommendations for the roof designer: Shingles made with polymer-modified (SBS) asphalt have better resistance to hail damage than shingles made from oxidized asphalt. Reroofing over an existing shingle system greatly increases the ...
Read more

4 Things You Should Never Do After You Get Pre-approved For A Mortgage

Image
You've done the work to clean up your credit score, scrape together a down payment and pry a preapproval letter from your mortgage lender. Cheers! Getting preapproved is a smart move, especially in a seller's market characterized by tight inventories and, in some regions, bidding wars. Having a lender's letter in hand signals to sellers that you're a legit buyer whose offer merits serious consideration. Even so, a preapproval letter is just a conditional commitment. It can be withdrawn if your financial situation changes in a way that makes your lender nervous. The best advice? "Maintain the status quo," says Scott Schang, branch manager at BuyWise Mortgage in Anaheim, California. There are a few surefire ways to get rejected after you've been preapproved. Among them: Quitting your job There's nothing wrong with leaving a job to take a similar or better-paying position at another company, so long as you remain a full-time employee who get...
Read more