Honesty Will Help Sell Your Home
December 4, 2011 by admin
Filed under real estate info
Originally posted 2010-01-08 05:00:38. Republished by Blog Post Promoter
One quality that you should be looking for in your listing broker is honesty, so if a broker does not give you a realistic view of the value of your home do not hire them. The broker should provide a detail comparative market analysis. The analysis should be of the last 30 days of homes with similar features. Here is why.
Today’s market is very volatile, so if you do not need to sell don’t. You may find that surprising statement coming from a real estate broker, but there are several factors that makes this statement the best advice for any seller.
In previous years, a seller could list his or her home for as much as the seller wanted as long as the buyer was willing to pay the price, it sold. The seller also could list the home at a number higher than the Realtor recommended that the seller list the home at, and it would sell.  The seller would term this pricing strategy as “wiggle” room. The reason this stragedy was successful was because it was a seller’s market back in 2003 to 2005.
Those tactics started showing the first signs of soften in 2006 when homes that were listed started remaining on the market for 3 to 6 months before selling. Prior to 2006, it was not uncommon to have a bidding war on homes. Several changes in the market happened in 2006 that influenced the market today and turn the market from a seller’s market in 2006 to a buyer’s market in 2009:
- increased in foreclosed homes
- changes in appraisal methods
- increase in minimum credit score to purchase a home
At the end of 2008, there were an upheaval of foreclosures and sharp economic downturn; thereby, prompt mortgage companies to tighten their belt and not allow financing. Those changes affect buyers being able to qualify for a loan due to the credit score requirement to increase to 620.
The belts were so tight that the government had to step in. I would like to find out if you think the changes to the mortgage industry that the government mandated helped or hurt buyer? seller?
Mortgage – Latest News
Originally posted 2010-01-14 05:00:14. Republished by Blog Post Promoter
Latest news in mortgages from around the blogosphere:
Families forced to pay mortgage with credit cards – BBC Business …
Mortgage News and Mortgage Rates on January 11, 2010. Latest news on mortgages and mortgage rates. 11th January 2010 SEARCH … Families forced to pay mortgage with credit cards – BBC Business. Posted by writer On 11 January 2010 …
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Will You Get Your Piece of Citigroup’s 35.6 Million Back?
Originally posted 2009-02-03 08:47:05. Republished by Blog Post Promoter
Citigroup once again is leading the mortgage industry in a revolutionary way by increasing its lending by 36.5 million. This boost or increase in lending was prompted by taxpayers, though. Taypayers wanted to know what has Citigroup done with the 45 million it received from the federal government last year.Â
According to Citigroup, the 45 million that it received was not for direct lending to consumers, but for leverage to allow Citigroup to receive funds from other funding sources and lend that new money out to consumers. According to an Associated Press article, “A bank makes money by borrowing cheaply for the short term and lending at higher rates for the long term; if a bank has no capital, other institutions and investors won’t lend to it.”
If you are interested in getting a loan try Citigroup first. It is ready to lend.
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