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Fixing to sell: Don't go overboard
Inman News
Fixer-uppers with upside potential were in high demand when the market was appreciating at a fast pace. more>
Good Faith Estimate contains some 'quirks'
As of Jan. 1, 2010, the Department of Housing and Urban Development (HUD) requires lenders to provide mortgage borrowers with a new three-page Good Faith Estimate (GFE) to protect consumers who are applying for a mortgage. more>
Two strategies to combat rising interest rates
Inman News
In mid-April, mortgage interest rates on 30-year fixed-rate loans increased to 5.21 percent, an eight-month high and a reminder that low interest rates won't last forever. more>
Short sale success strategies
Inman News
Some buyers have made offers on short sales, then waited as long as six months to a year, only to be denied lender approval. Approval from the seller's lender(s) of current loans secured by a short-sale listing is necessary if the proceeds from the sale aren't enough to pay back the lender and cover the seller's closing costs. more>
The truth about short sales
Inman News
Buyers often shy away from considering short-sale listings, either because they've had a bad experience or have heard horror stories about the deals that take forever and never close. more>
Closing costs vary by location
Inman News
Closing costs, the costs associated with buying or selling a home, can add up. It's wise to get an estimate of how much you're likely to pay in closing costs before you make an offer to buy a home or accept an offer to sell. more>
Death of a real estate deal
Inman News
Take a proactive approach to buying or selling a home. By anticipating what could go wrong with your real estate transaction, you can take care of potential problems before they derail the deal. more>
Sizing up purchase deposits
Inman News
In most states, it's customary, or required by law, for the buyers to include a good faith deposit when they make an offer to purchase a home. more>
Presale inspections for smoother sales
Inman News
Homes are selling for less. Everyone's trying to cut back. Yet, many real estate agents think it's wise for sellers to provide presale inspections for buyers to review before they write offers. Is the cost, which could run from a few hundred to $1,000 or more, worth the expense? more>
Multiple home inspections pay off
Inman News
Buyers often assume that if a house is new there's no need to inspect it. What could possibly be wrong with a brand-new house? You'd be surprised. more>
Final walkthrough a buyer's best friend
Inman News
Imagine this. You move into your new home for the first time after closing and, although you transferred the utilities into your name, the lights don't turn on. There isn't a single light bulb left in the house, the yard is overgrown and the leaky faucets the sellers were to have fixed still leak. more>
Tech playing key role in real estate deals
Inman News
Invariably, buyers or sellers are faced with important decisions at the most inconvenient times. They may be on vacation or on a business trip. Even if you're in town, you may be tied up in meetings and unable to take time to drive to your real estate agent's office. more>
Staging home could land sellers in trouble
Inman News
Fixing your house up for sale is highly recommended in the current market if you hope to sell within a reasonable period of time and for an acceptable price. Today's buyers want turnkey houses that they can move right into without having much work. more>
Deferred maintenance often a deal breaker
Inman News
Three years ago, when the home-sale market peaked, buyers frequently bought "as is" regarding deferred maintenance, like wood-destroying pest or "termite" work. more>
Facing neighbor complaints on eve of sale
Inman News
When the for-sale sign goes up, it's not uncommon for a neighbor to come forth with a complaint -- perhaps about an issue that has never been mentioned to the seller before. more>
Contingencies frustrate buyers, sellers
Inman News
There are many frustrating aspects associated with buying or selling a home today. One is that contract contingencies -- such as inspections, financing or the sale of another property -- often aren't removed on time. It's not uncommon for closings to be delayed, usually due to the buyer's lender. more>
Sellers think twice about high offers
Inman News
Sellers who are lucky and receive more than one offer should carefully consider all aspects of the offers before accepting the one with the highest price. Even if you receive only one offer and it's lower than your asking price, you might want to consider bending some on your price in exchange for a transaction that is likely to close. more>
Appraisals killing deals in many markets
Inman News
Finding the right house to buy is never easy; selling a home today is also challenge. It's best to prepare yourself for obstacles that could cross your path so that you're prepared should they arise. more>
Picking the right mortgage rep
Inman News
Just as using a top-notch real estate agent enhances the quality of your home-buying experience, so does working with an astute mortgage broker or loan officer. The 80-20 principle applies to most businesses: 20 percent of the practitioners are excellent; 80 are not. more>
Check permits before purchase
Inman News
It can be a hassle to go through your local building department permit procedure when you make changes to your home. You or your contractor must apply for permits, pay fees and meet building inspectors to approve the work in progress. Sometimes there are complicating factors. more>
Finding common ground for home repairs
Inman News
Today's home sales are all about negotiation. Negotiating the purchase price is the first step. A second round of negotiations can occur after the buyers complete their inspections. For sellers who negotiated to their rock-bottom price, this can be disappointing and a possible deal-breaker. more>
Homeowner's insurance hang-ups
Inman News
After paying out huge settlements to clean up mold damage, homeowner insurers pulled back from issuing new policies on homes where a water damage claim had been made within the last five years. more>
Smart buyers put on reporter's hat
Inman News
It's risky to buy a home in an area you know nothing about. Plan to investigate the neighborhood before you buy to make sure you'll like living there. more>
Homeowners find it pays to go green
Inman News
The green revolution is spreading as the public becomes aware of the need to reduce dependence on foreign oil and improve the environment through conservation and recycling. more>
Pricing right for today's market
Inman News
Pricing too high can be the kiss of death for home sellers in today's market. Many buyers are sitting on the fence, waiting to see what happens with the economy, and hoping that home prices will drop further. more>
A primer on purchase offers
Inman News
Decades ago, sellers priced a little high to leave room to negotiate down. Buyers typically offered 5 percent less. Then they negotiated and settled at a price in between. Today, there is so much variability in the housing market that it's impossible to use a pat formula for coming up with an offer price. more>
Fannie, Freddie to buy bigger loans
Inman News
Fannie Mae and Freddie Mac are once again set to begin buying "super-conforming" mortgage loans of up to $729,750, which should bring rates down for borrowers with good credit seeking loans previously classified as jumbo. more>
The dos and don'ts of home selling
Inman News
An energetic real estate agent can have your home on the market in a day. However, to provide the kind of marketing exposure you need to sell in today's market takes a little longer, unless your home is photo-ready when you list. more>
8 things to do before refinancing
Inman News
With 30-year interest rates well below 5 percent, and 15-year interest rates between 4 percent and 4.5 percent, it's time to start seriously thinking about refinancing your mortgage.
But before you high-tail it to the nearest mortgage lender and fill out a mortgage application, there are eight things you should do. more>
Top reasons homes don't sell
Inman News
It's a challenging home sale market for sellers in many areas around the country. Sellers who are having difficulty selling have several options. more>
Overwhelmed by kitchen floor options?
Inman News
The floor in your kitchen has to wear a lot of hats. It has to be able to withstand the rigors of lots of foot traffic. It needs to be water-resistant and be able to stand up to repeated cleanings. It has to be able to withstand grease, spills, drips and other indignities -- and it has to look good doing it! more>
Home Inspection: Don't buy without it
Inman News
Easton v. Strassburger, a landmark California lawsuit in 1984, changed the way residential housing defects were dealt with when a home is sold. Before the Easton case, the credo was buyer beware. Today, few buyers would consider buying a home without first having it inspected by a competent home inspector. more>
Whole new ballgame for refis
Inman News
Mortgage interest rates dropped to an average rate of 5.04 percent, not including fees, during the week ending Dec. 19, 2008, according to the Mortgage Bankers Association (MBA). This caused a pickup in the mortgage refinance activity resulting in a 62.6 percent increase in the MBA Refinance Index from the previous week. more>
Senate passes watered down Foreclosure Prevention Act
Inman News
The Senate passed legislation April 10 that would provide billions in tax cuts for home builders, banks and other businesses hit by losses in the housing downturn and a smaller amount of assistance for state and local governments and individual homeowners. more>
Gifting home to relatives won't help either
Inman News
Q: Are there any creative ways to avoid or decrease the tax owed when selling a rental property? How about giving the home to a family member, and then selling it? What are gift-tax issues? Can someone receive this gift and sell immediately? Do you have any other ideas? more>
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