Given that it’s Superbowl Week (Go Pats!), I thought we might go with a football theme today. I can’t tell you how many different people I hear proclaim that they are the quarterback of the real estate transaction – the agent, the loan officer, an attorney, accountant or financial planner. But for goodness sake, the buyer/borrower had better be the one calling the shots. Not that everyone else doesn’t play an important role, but the buyer/borrower is the one most impacted by the choices made. Here’s my opinion of how the team works best:

Offensive Coordinator (Your Real Estate Agent) – Your real estate agent is your offensive coordinator. Armed with the game plan…continued

I have seen estimates stating that 29% of deals that go to contract and require a mortgage, don’t close. That number boggles my mind. It means that even after a buyer and seller come to terms on a sale (not an easy feat these days), 3 out of 10 transactions fall apart. What are some of the more common reasons?

Appraisal issues – In many markets, we are still seeing declining values. Appraisers are in a difficult position, and with so many transactions (including seller’s concessions to assist buyers with closing costs) values aren’t always coming in at sales prices. …continue reading

In 2011, we experienced one of the most volatile housing markets in American real estate history. Things we never anticipated happened. Events we were sure would take place didn’t. Today, we want to review the five headlines we think had the biggest impact in 2011.

1.) Interest Rates remained at historic lows

In order to help stabilize the economy in 2010, the Fed took certain actions which kept mortgage rates at or near historic lows (approximately 4%). Most felt this would be a short term tactic and once abandoned would result in rates returning to long term averages (6-7%)… continue reading

With the residential real estate market clearly at a low, real estate agents are turning to new strategies to help home sellers protect their investments and to sell homes quickly at the highest price. The biggest development… continue reading

Once your house is correctly priced and in its best presentable condition, it’s time to tell the world about it. You might have the most beautiful home at the best price in town, but if no one knows about it, or if it’s not marketed effectively, neither price nor condition will matter … continue reading

Shopping for a mortgage is one of the most important steps involved in purchasing your next home. Since the terms and conditions that you agree to will impact your financial future for years to come, it is vital that you take the necessary time to research and compare the best packages available to you.

Many buyers tend to primarily focus on obtaining the best interest rates; and though this is an extremely important piece, there are a host of other factors to consider. …continue reading

The National Association of Realtors recently released their 2011 3rd Quarter Housing Report. In the report, they showed that combined sales of single family homes, condos and co-ops increased in EVERY state as compared to the 3rd quarter of 2010. Is this a good sign for the future of the real estate industry? We sure hope so! Here are the state-by-state numbers. …Continue Reading

You may ask “How can we show respect to our Veterans?” Just 2 words would be a good place to start. THANK YOU!

PAUSE TO REMEMBER: The 11th hour of the 11th day of the 11th month refers to Veteran’s day. It was also when World War 1 ended (November 11, 1918). Veteran’s day moment of silence is at the that very hour, saluting all veterans.

honor \Hon”or\, n. [OE. honor, honour, onour, onur, OF. honor, onor, honur, onur, honour, onour, F. honneur, fr. L. honor, honos.] [Written also honour.] …continue reading

Most people get it backwards. They shop for a home, THEN, they try to structure the financing for it. They make the emotional decision of buying the home of their dreams, THEN, try to apply logic in how they pay for it. Many even go “online” and play with what is affordable by underwriting standards without TRULY considering their future.

I am always fascinated by mortgage underwriting “standards” when they don’t even take into account some very large variables that affect an applicant’s cash flow, and thereby, their ability to repay the loan or maintain a lifestyle they want: …continue reading

13,780 Homes Sold Yesterday

To all of you that have declared the real estate market dead…YOU’RE 100% WRONG! We all know that home sales are down considerably from where they were at their peak in the mid 2000’s, but it’s certainly not dead. Unfortunately, the media preaches every day about how bad the real estate market is and they’ve brainwashed some of us into believing it’s true… continue reading