The homebuyer tax credit was a temporary measure to fix what seemed like a complete stall in the real estate market.  It helped; it boosted consumer confidence and homes began to sell again. 

Now, it’s gone.  Sayonara, tax credit!  However (more…)

When you get approved for a home mortgage you should ask, “What are my closing costs?”  You should see them in writing.  Interest rates are important, but your ‘closing costs’ are equally important.  If you have a rate of 5% on a $300,000 loan with closing costs of $9000 quoted from one bank and you have a rate of 5.5% with 0 closing costs from another bank which is better? (more…)

When working with a homebuyer, I don’t start off by asking, “How much are you approved for buying?”  The better question is, “How much of a payment is comfortable for you?”  Typically, a homebuyer is pre-approved for an amount that is more than what they are willing to pay monthly.  (more…)

When a homebuyer is purchasing a residential property, the seller is required to provide them with a Seller’s Disclosure Statement to detail any pre-existing conditions.  Now, the million dollar question is whether or not everything in the disclosure statement is 100% true.  Is it fact or fiction? 

 Consider that the homeowner is (more…)

Yes, it’s true; a pre-inspection can be a great tool for sellers to verify the condition of their house in preparation for a selling.  So nothing to worry about buyers because the seller has already taken care of everything found on the pre-inspection, right? (more…)

FHA has been sustaining first time homebuyer market and lower price point homes through the collapse of the real estate market.  Now that the market is slowly on its way to recovery, FHA is not so subtly backing away from their low down payment options, making it harder for a lot of homebuyers to buy their first home.  (more…)

Who wants to see a Celebrity Home?  I do, I do!  Recently, I was previewing homes in Newcastle and one of houses belonged to the ex-coach of the Seattle Seahawks.  I didn’t recognize the seller’s name at first on record.  However, when visiting the house there were personalized autographs from athletes like Magic Johnson, and coaching awards strategically (more…)

The biggest change to the good faith estimate (GFE) since the 1970’s!  The new disclosure format is effective starting January 1^st 2010.  The thinking behind the new format was to simplify the cost associated with a mortgage for the average consumer.  It also ensures that the lender has the borrower’s and the property’s essential information in order to better predict the cost.

The bottom line is (more…)

We have all seen sellers’ banners, billboards, and ads that say “3 ½ percent Credit to Buyer’s Closing Cost.”  Sellers know it, you know it, it’s no secret we’re in a buyer’s market and you’re going to be asking for the closing cost concession in your offer.  (more…)

Have you, or has someone you know, been thinking about purchasing a home built in 1990 or later?  There is almost always extra expenditure attached to the home.  This charge might even go unnoticed until the invoice comes in the mail after you’ve bought the home.  The surprise charge falls under the category “Sewage Capacity Charge.”  A sewage treatment capacity charge is different (more…)