Pros and Cons of Bypassing an Appraisal Since mortgage giants Fannie Mae and Freddie Mac announced last year special rules for when a property does not need a traditional in-person appraisal, only about 5 percent of Fannie’s 1.2 million home mortgages—or 60,000—have qualified, The Washington Post reports. Freddie estimates that, eventually, no-appraisal mortgages will …
Category: Real Estate Tips
May 18
States Where Owners Are Likely to Move
States Where Owners Are Likely to Move Nevada has the highest share of homeowners who are likely to move, according to a new report released by ATTOM Data Solutions. Homeowners in Delaware, Florida, Colorado, and Virginia rounded out the top five places where homeowners are showing the greatest likelihood of moving. ATTOM Data Solutions, a …
May 17
Use Blog Comments to Boost Your Web Traffic
Use Blog Comments to Boost Your Web Traffic One of the most overlooked and underrated ways to promote your blog or website is within the comment section of other websites and blogs, writes Jayson DeMers, an online marketing and SEO expert for business owners, in a column for Forbes.com. Posting comments may actually be a …
May 16
VA Loan Limits
VA Loan Limits Maximum loan limits have increased in select counties. VA loan limits have changed. This may impact you if you have been pre-approved for a loan amount that exceeds the VA maximum loan limits. This update is effective for case numbers assigned on or after January 1, 2018 through December 31st …
May 15
Best Tip to First-Time Buyers: Act Fast
Best Tip to First-Time Buyers: Act Fast A shortage of homes for sale and rising home prices are making it challenging for first-time buyers, in particular, this spring. For those who want to land a home, real estate professionals are urging them to move fast. The price of an existing home in March was …
May 14
Rising Incomes Provide More Buyer Relief
Rising Incomes Provide More Buyer Relief Rising incomes are helping to offset recent increases in mortgage rates and gave a boost to housing affordability in the first quarter of this year, the National Association of Home Builders/Wells Fargo Housing Opportunity Index shows. The index showed that 61.6 percent of new and existing homes sold between …
May 11
4 Hot Trends for Outdoor Spaces
4 Hot Trends for Outdoor Spaces Regardless of its size, a home’s outdoor space should be a showpiece in a listing. “This year it’s really about making your outdoor space function like an interior space for all things fun, lounging, and entertaining,” Gretchen Kennelly, a San Diego interior designer, told realtor.com®. Designers offered up …
May 10
Lower Rates Do Little to Spur Loan Demand
Lower Rates Do Little to Spur Loan Demand Mortgage rates dropped last week, but that didn’t seem to push homeowners or home buyers to take advantage. Total mortgage applications—for home purchases and refinances—dropped 0.4 percent for the week. Volume is now 6 percent lower than a year ago, the Mortgage Bankers Association reported Wednesday. Refinance …
May 09
Questions about VA Financing?
Questions about VA Financing? I would greatly appreciate an opportunity to answer your questions. What is the maximum sales price I can purchase with no down payment? What type of property can I purchase? Are VA Loans assumable? How can I obtain a certificate of eligibility? What if my spouse is overseas or at …
May 08
FHA Borrowers Get Help Funding Solar Panels
FHA Borrowers Get Help Funding Solar Panels A growing number of lending programs are helping homeowners pay the upfront costs of solar panels. One lender, Guild Mortgage, an independent lender, recently announced a program that allows home buyers to lump the costs of solar panels into an FHA loan. California residents will be the first to …
May 07
How to Prevent a Low Appraisal
How to Prevent a Low Appraisal Many buyers are offering more than the asking price on properties undergoing bidding wars, but when the appraisal reveals the true market value of the home, they may find they’ve agreed to pay too much. Home sales commonly fall through when a property appraises for less than the …
May 04
Why Pre-approval Isn’t a Reliable Stop Gap
Why Pre-approval Isn’t a Reliable Stop Gap It’s common advice for buyers to obtain a mortgage preapproval letter from a lender before going out with a real estate agent to look at homes. The rationale is that preapproval puts in writing the loan amount a buyer is qualified to receive, all but guaranteeing the price …
