Below you'll find a list of all posts that have been tagged as “financing”
By: Wendy Rose Gould It’s no secret that housing costs have become increasingly expensive over the past few years, and there’s no sign of a drastic market change anytime soon. Hopeful first-time buyers are arguably experiencing the crunch more than anyone else, with many feeling like their long-held dream of purchasing real estate is simply out of reach. What clients …
By David Hakimi This article is part two in a two-part series on how to sell newly-constructed homes. Read part one here. In my last post, I discussed the buyer’s agent’s duties in a new construction transaction and the sales process. Now I’d like to touch on hurdles clients may face buying new construction, as well as contracts, financing, and …
By Scott Newman Many agents forget that barriers to getting deals to the closing table exist in both good and bad markets. We are seeing a lot of appraisal issues in the Chicagoland area as over-regulation and timidness on the part of appraisers to push values — despite undeniable appreciation — has resulted in many deals dying at the financing …
By Kelly Reark I have been representing a buyer since June of this year when he made the decision to put in an offer on a short sale. We aren’t closed yet, and it has been a bumpy road. Our journey actually began in January of 2007, but who’s counting? There are many ways that this deal could die along …
By Nobu Hata The skinny: The Department of Housing and Urban Development is seeking public commentary through Aug. 14 on three “measures” that “reduce financial risk and preserve affordable mortgage financing for responsible consumers.” The measures: 1. Update the combination of credit and down payment requirements for new borrowers. New borrowers seeking FHA-insured financing will be required to have a …
By Jonathan Osman Step 1: Find a buyer. In my market, the unemployment rate is 11.1 percent and the under-employment rate is around 16-20 percent. While a few years ago, one could conceivably purchase a house without a job; today, employment is essential. Step 2: Find the buyer a loan. As long as the buyer has a job, modest credit …
By Brian Copeland Anyone who knows my business knows I pride myself on strong counseling of all my clients prior to any signed documents. It’s the secret sauce of my business. This week, I messed up…bad! During the hustle and bustle of NAR Midyear, I had a remote buyer counseling session. I was so busy that I condensed the normal …
By Nobu Hata With the down market and the inevitable mass exodus of “those” loan officers, you’d think we could rest easy knowing that the loan officers left would be – for lack of a better word – decent. Holy Hannah, would we be wrong. In the last couple weeks, I’ve had various buyers shop their loan around, including those …
By G. M. Filisko, contributing writer, HouseLogic In today’s economy, there’s no shortage of potential buyers, but few have emerged from the recession without a few dings on their credit. Help potential buyers boost their credit with tips from the June “Get Ready to Own” bundle now available at the REALTOR® Content Resource: 1. Know your credit score. Credit scores …
By Laura Rubinchuk When I heard about the new FHA DELRAP/HRAP guidelines for condo financing, my gut reaction was, “Well, I might as well go find another job.” Some of the subjective guidelines for the new approval process will greatly affect my market: -Proximity to a noise (i.e. busy streets, highways) -Proximity to a gas station -Percentage of commercial space …
