Wednesday, May 26, 2010
The Months of April and May
Last month there were 2674 New homes on the market with 1176 selling, Already this month there are 1779 new homes and 709 have been sold. With the majority of closings happening the last week that number is going up. The Summer Selling of Homes is in Full Swing, call me.
Tuesday, May 18, 2010
Getting Good Information
One of my best friends called me yesterday about an appraisal. He use to be a Real Estate Agent and is now a Lawyer. He stays on top of things and has been attempting to get an appraisal of his home. He called me to get some information on the homes that have been sold lately.
Well after some time on the phone we started talking about how banks now have no choice on who they have do there appraisals. Banks now have a random group of individuals that are chosen to do their appraisals. He had no idea.
This simply goes to show that if a person who has only been out of Real Estate for a short time needs the help of a professional then so will most others.
What ever your level at what you do, you should always call a professional. You do your job everyday, I also spend all day everyday making your Real Estate dreams come true.
Monday, May 10, 2010
5 Things to do Before Putting Your Home on the Market
1. Have a pre-sale home inspection. Be proactive by arranging for a pre-sale home inspection. An inspector will be able to give you a good indication of the trouble areas that will stand out to potential buyers, and you’ll be able to make repairs before open houses begin.
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
2. Organize and clean. Pare down clutter and pack up your least-used items, such as large blenders and other kitchen tools, out-of-season clothes, toys, and exercise equipment. Store items off-site or in boxes neatly arranged in the garage or basement. Clean the windows, carpets, walls, lighting fixtures, and baseboards to make the house shine.
3. Get replacement estimates. Do you have big-ticket items that are worn our or will need to be replaced soon, such your roof or carpeting? Get estimates on how much it would cost to replace them, even if you don’t plan to do it yourself. The figures will help buyers determine if they can afford the home, and will be handy when negotiations begin.
4. Find your warranties. Gather up the warranties, guarantees, and user manuals for the furnace, washer and dryer, dishwasher, and any other items that will remain with the house.
5. Spruce up the curb appeal. Pretend you’re a buyer and stand outside of your home. As you approach the front door, what is your impression of the property? Do the lawn and bushes look neatly manicured? Is the address clearly visible? Are pretty flowers or plants framing the entrance? Is the walkway free from cracks and impediments?
Friday, May 7, 2010
Current Mortgage Information
I wanted to pass on some information one of my Mortgage people passed on to me.
Not sure I would’ve believed it after hearing all the doom-and-gloom talk from the feds in the last month, but rates have dropped back down into the 4.875% range for both Conventional and FHA! If your client locked higher, maybe you could be a hero to them and have them do a little shopping with a company that employs its own team of underwriters, doesn’t have added-on broker, processing, etc fees, is a direct-to-FannieMae lender, and has been a major lender in the mortgage market for 32 years….MORTGAGEAMERICA! I will be more than happy to assist your clients and turn their dream into an on-time closed loan.
We may get a little relief in FHA seller concessions dropping to 3% of purchase price. It now appears HUD will not implement until October (instead of summer as originally planned). When this goes into effect, this will greatly impact your purchasers because the 3% figure may not cover all of the buyer’s closing costs, forcing more clients to come to the table with money.
**If you know of potential purchasers who are not planning to purchase until later this year, tell them to begin NOW putting away a few dollars every pay period just in case they need it.**
USDA
USDA/Rural Housing currently has a 2% funding fee (can be financed into loan), and no monthly mortgage insurance.
Bob Greene
Certified Loan Officer
NMLS # 191359
MortgageAmerica
(205) 986-3175 office
(205) 902-4342 cell
(205) 451-1546 E-Fax
Not sure I would’ve believed it after hearing all the doom-and-gloom talk from the feds in the last month, but rates have dropped back down into the 4.875% range for both Conventional and FHA! If your client locked higher, maybe you could be a hero to them and have them do a little shopping with a company that employs its own team of underwriters, doesn’t have added-on broker, processing, etc fees, is a direct-to-FannieMae lender, and has been a major lender in the mortgage market for 32 years….MORTGAGEAMERICA! I will be more than happy to assist your clients and turn their dream into an on-time closed loan.
We may get a little relief in FHA seller concessions dropping to 3% of purchase price. It now appears HUD will not implement until October (instead of summer as originally planned). When this goes into effect, this will greatly impact your purchasers because the 3% figure may not cover all of the buyer’s closing costs, forcing more clients to come to the table with money.
**If you know of potential purchasers who are not planning to purchase until later this year, tell them to begin NOW putting away a few dollars every pay period just in case they need it.**
USDA
USDA/Rural Housing currently has a 2% funding fee (can be financed into loan), and no monthly mortgage insurance.
Bob Greene
Certified Loan Officer
NMLS # 191359
MortgageAmerica
(205) 986-3175 office
(205) 902-4342 cell
(205) 451-1546 E-Fax
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