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There is usually one very simple reason why a homeowner tries to sell a house without using a real estate agent: commission. They want to save the money paid to an agent to sell the property. There are other reasons, but none so important as the financial one. What are the other reasons? Continue reading
Home prices in Metro Atlanta have crept up 11%+ over 2014, and more in some high demand areas. Many over financed home owners who have been trying to keep afloat with their heads and assets underwater will now be able to sell without bringing funds to the closing table. Continue reading
One of the most important aspects of the real estate market regardless of where you live is the interest rate on mortgage loans. Not just for buyers, but sellers depend upon buyer traffic and this is usually driven by lower interest rates. According to the National Association of Realtors, Chief Economist Lawrence Yun, mortgage rates will rise to 5% in the next year (2015) and 6% in the next two years. Economists base their predictions on many market factors. Any dramatic event that affects our economy could change those predictions but assuming we don’t have a major event such as 911 (Sept. 11th tragedy) or another housing crash, the Economists’ predictions are usually pretty sound. Continue reading
The loan qualification process has gone from breathing on mirrors prior to August 2008, to the present day strict regulations that seem almost insane. If you are planning to borrow money (mortgage) to buy a house or refinance listen carefully to what we are going to share with you here. Continue reading
The Obama Administration is directing, via executive action, the Federal Housing Administration to reduce annual mortgage insurance premiums by 50 basis points, from 1.35% to 0.85%. (T)oday, the President announced a major new step that his Administration is taking to make mortgages more affordable and accessible for creditworthy families,” according to a statement from the White House. The White House statement says that the typical first-time homebuyer, this reduction will translate into a $900 reduction in their annual mortgage payment.