Real Estate Topics

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A long, long time ago, someone who wanted to apply for a loan to buy a house would contact their local bank or savings and loan. Once the loan was approved, it would stay on that institution’s books. Eventually a “secondary” market grew where another institution would buy that loan and colle…

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It’s possible that your credit score will change soon – either up or down. The company behind the most popular credit score (called your “FICO score”) has announced some changes to how they will be calculating scores starting this summer.

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Solar panels, tankless water heaters and radiant barriers in your attic are all great ways to reduce your utility bills, but they can be a bit pricey. Below are some cheaper tips that won’t make as big of a difference but every little bit helps!

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In the past, a lender usually would only count the income on a rental you owned as part of your total income if it was verifiable and established. This means they wanted to see a copy of the lease and proof that rent payments are coming in. Sometimes they wanted to see at least a year or two…

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Sometimes it’s hard enough putting enough money aside for the down payment to buy a house, and then there are closing costs on top of that. You can reduce how much you have to bring to closing by getting a credit from your lender. This is entirely legal and above-board since you’ll be paying…

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Moving is hard. Below are some tips that may help with your move.

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First, I need to explain the title of this article. I’m being a bit sarcastic there, because before nearly every major financial crash in the past, people were saying, “It’s different this time…” right before it all came crashing down! I’m not predicting a crash but I’m also not going to say…

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I wrote an article recently discussing some options for down payment assistance in the form of silent second loans or grants and told you to really check out the fine print to see if the money needs to be paid back and if your interest rate will be higher because of any “free” down payment a…

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There are programs from local or county agencies where they will help out with down payment funds to help needy buyers bridge the gap to homeownership. Some of these are loans and some of the loans have to be paid back right away while others are “silent loans” that don’t have to be paid bac…

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INTEREST RATES – Mortgage rates had been hovering around historic lows in the mid to low 3% range the last few years. Then in 2018 they started increasing to nearly 5% with fears that they would continue to climb. But surprisingly in 2019 rates drifted back down to the high 3% range again. R…

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Last week I reported to you that the National Association of Realtors® (NAR) was considering a ban on pocket listings. (A “pocket listing” is where an agent lists a home for sale but doesn’t list it in the Multiple Listing Service and markets it through other channels instead.) The number of…

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A “pocket listing” is where a real estate agent lists a home for sale, but doesn’t put it on the Multiple Listing Service right away. This means it’s not exposed and available to all the agents and buyers looking for homes for sale in that area via the MLS. Some agents like to market their l…

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What’s a “bully offer?” That’s when a listing is advertised as accepting offers on “X” date, but an offer comes in before that date and the buyer insists it be presented ASAP, and their offer expires prior to the advertised offer date. They also usually claim that if their offer isn’t accept…

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Zillow provides an estimate of what your home may be worth called a “Zestimate” and they can be WAY off. Zestimates have created a lot of frustration in the industry for both agents and home sellers. Agents get frustrated when they tell a seller that their home is worth a certain amount, but…

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Nowadays many loan applications are initially reviewed and pre-approved by a computer program called the “Automated Underwriting System” (AUS). The potential borrower’s information is fed into the system and the “findings” come back fairly quickly. If the borrower’s information meets the cri…

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Last week I promised to show you how to estimate what your tax bill would be if you bought another home. You can get a copy of the current bill at the following website - https://taxcolp.cccounty.us/taxpaymentrev3/lookup/

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Last week I discussed the basics of how tax bills are calculated. As part of your due diligence before buying a home, it is a good idea to have a look at the tax bill for that new home, so you don’t get any surprises later. I described last week how most lenders and escrow officers use 1.25%…

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Some homebuyers find that their actual house payment is higher than what they were expecting. They find that their principal and interest portion are exactly what the lender quoted them, but their monthly tax impound is much higher than the original estimate. Usually when most people first s…

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LANDSCAPING – This is one of the most noticeable aspects of your home as the buyer pulls up for the first time. Grass should be green (even if that means bringing in new sod), all areas should be free of weeds, remove dead/dying plants, cut back bushes as needed, and add some fresh plants/fl…

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So, the big economic news last week was the “inverted yield curve.” This is when rates on long-term US treasury investments are lower than the short-term ones. Normally, the rates are higher for the longer-term. When it’s inverted, it usually means that investors are pessimistic about the ec…

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Below are some tips to prepare your house whenever you will be gone for an extended period.

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There is a big difference in how to handle selling a house during a divorce depending on the status of the divorce. If a couple is separating temporarily or in the early stages of a divorce and no divorce court order has been issued, then everything is pretty much negotiable between the two …