Archive for February, 2009

Realtors in This New Market

February 23, 2009

As most people have now figured out, the housing market has changed dramatically and so had lending procedures. Because of all the changes in the market with Short Sale, Bank Owned homes and home being sold in as is condition this is no time to choose just any realtor. These days, realtors need to be seasoned or experienced and very well trained to keep up with the changing rules.

Whether you are buying or selling, it is a critical time to choose the right realtor. In the past, people have hired just about anyone that simply had a license like a friend or relative regardless of their experience. Not that it was ever a good idea to choose just any realtor but in this changing market you better pick carefully.

If you are wanting to sell your home or if you are in a situation where you need to sell your home with a short sale your realtor better understand the process and be an experienced short sale realtor. True, that most realtors have never been faced with short sales in past years but if a realtor is experienced they would at least have dealt with several in the past year and a half. Always ask if they have dealt with short sales and know the procedure as there is much to this process. Initial paperwork and disclosures are important and timing is everything as well as pricing the home to get an offer, a strong enough offer prior to the bank foreclosing on your home. Why is this so important? If you are behind on your payments already maybe several months before your lender will probably not stop the foreclosure process until you actually have an offer into the bank awaiting a decision from them.

You cannot afford to waste time with a realtor learning this process while the clock ticks on the risk of your home becoming foreclosed. Be sure and contact a seasoned agent as soon as you are in danger of missing your very first payment.   If you have lost your job or income has been slashed and you know that there is no way of making ends meet start making these decisions on if you can sell your home out right or if you need to apply for a short sale. Unfortunately, many people wait too long and then end up having their home foreclosed. Why is a short sale better? It will be less of a hit on your credit than a traditional foreclosure. It will show as a paid foreclosure and may only damage your credit for a few years rather than seven to ten years on a traditional foreclosure.

During the short sale process you can stay in your home for several months and while waiting for either an offer or while the offer you have is being negotiated. During this time it would be wise to save some money for a deposit on a rental or other moving expenses when you will have to vacate the property.

This is a difficult time for many homeowners but hopefully you can at least hire the right realtor to gently give you the best advice and walk you through the process and be sure that everything is done in a timely manner. Work with someone that cares about you and your situation and not just the paycheck. This is not easy for so many people and unfortunately many realtors can be harsh and looking only for the paycheck. There are many good realtors out there, be sure you hire the right one.

Nancy Niblett is a highly successful Real Estate Agent specializing in the Chandler area. She credits her success to hard work, integrity and honesty. Clients continue to refer her over and over again. Nancy is one of the most successful award-winning agents and currently with West USA Revelation. She was awarded the Silver Top Producing individual agent in 2004, Double Gold individual in 2005 and the annual Spirit and Integrity award in 2005 and 2006. Her most cherished moment was bestowed on her in 2006, the Regional “Culture” award, which is the highest attainable honor given.

In 2006 and 2007 she received the Silver Top Producing Individual Award and the Association of Realtors Presidential Multi-Million Dollar Producer Club Award for the past 7 years straight.

For several years she has been part of the Agent Leadership Council. She has served as the Chairperson for the KW Cares Charity Organization and has raised thousands of dollars for Hurricane Katrina victims as well as for Make-a-Wish Foundation and other charities.


Best Mortgage Loan Rates

February 4, 2009

Buying a home usually means taking a loan or mortgage. As a person who is in control of your finances that you need to compare all the options and costs involved in obtaining a mortgage. You could save thousands of dollars just by comparison shopping and smart business negotiations.

The first step is to itemize all costs. The following is information from several lenders, savings institutions, banks, mortgage companies and credit unions. If necessary, hire a mortgage agent to complete all details for you. Already working in the field you have in your hand a great deal of information about loans, terms and fees. It is important that you have a contractual agreement with the broker.

To find the best rate should pick up a compilation of current mortgage interest rates. Make sure to list the lowest and highest rates. Control of fixed rates and adjustable rates and the market trend forecast. Find out about the annual percentage rate, points, or fees payable to a lender or a broker that is currently applied, the loan origination or subscription fees, broker fees, transaction settlement and closing costs. Once the facts and figures, to negotiate with the lender for the best rate. ”

On any given day, several borrowers with similar profiles for different types of loan officer. Therefore, ask the officer to write down all components of your loan. Once this request for exemptions and reductions. Make sure you have competitive bids from more than one institution. Once they reach an agreement in writing to request blocking the corridor. Undertakes to pay the fee required for closing the loan.

The gold key to get the best rate Åre shop, compare and negotiate hard and intelligently.

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February 4, 2009

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