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Seaport Real Estate Group Blog

Tyler Gracey sits down with Erik Johnson and Charles Gorrondona of Harbour Mortgage Group to discuss FIVE key points that either STREAMLINE or DERAIL a buyer's ability to obtain a mortgage. Consulting with a reputable lender ahead of time will help set the stage for the buying process down the road. Applying for a mortgage may feel frightening and like uncharted territory - It doesn't have to be!

Click here for more information on First Time Home Buyer Tips!

Tyler Gracey
tyler@seaportre.com

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Written by Jon Nelson

THE REAL ESTATE CYCLE - Barring any special circumstances, every home, neighborhood, city, town and state is subject to the inevitable influence of the Real Estate Cycle. Independent of any external pressures, the stages of this ever-changing sequence have been the source of much unnecessary financial and economic strife and leave a permanent mark on homeowners and the municipalities they populate.

If a certain locale is not growing, it may very well be declining. This is a dynamic pattern that can and will impact the indirect and sometimes unforeseeable consequences of consumers unknowingly purchasing ‘too much home’ for their budget. The ripple effects of this are far-reaching and can often accelerate the decline of a

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Written by Robert H. Ruth

According to two recent studies, one published by the National Association of Realtors, the other by Harvard University’s Joint Center for Housing, single women represent 17% of homebuyers throughout the US. That is a very significant number… it shows that single women are the second biggest demographic segment of the purchase market after married couples. By comparison, single men only account for 7% of homebuyers.

Here are a few significant findings from the studies:

  • More than one in five home buyers is a single woman
  • There are twice as many unmarried women buying homes than single men
  • Single women buyers equal more than 33% of the growth in home ownership since 1994

These statistics are even more

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Time Kills Deals - Do Your Research

 

Real Estate Raw&Uncut is for: Realtors, Agents, Buyers, Sellers, Brokers, Attorneys, Lenders, or just anyone that wants it "REAL" in REAL ESTATE! No hidden lies, none of that Realtor "fluff", no TV drama, no media BS... only the cold hard truth which we deliver unscripted and unfiltered with a new episode every week.

Episode 185: Chances are very good that your seller will receive much less in the long run for an overpriced property than if the property was priced correctly from the start. Most people accept and understand this concept. What many do not recognize is that knowing your product prior to listing can prove to be instrumental in getting the deal done. It is imperative that you have the

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Written by Robert H. Ruth

In last week’s post, I looked at the impact of waiting to buy a house when rates are rising, which is the situation we are experiencing at this point in time. As I explained, thus far in 2018, mortgage rates have risen about .75% to around 4.625% from the prevailing rate in December, which was 3.875%. I also looked at a scenario for first time buyers named John and Mary, who are attempting to purchase a $300,000 home with 10% down. Our analysis was predicated on the following assumptions …

  • John and Mary earn a gross monthly income of $7325. The house they want to buy will require escrows of $ 400 monthly for taxes and homeowners insurance and a 90LTV loan requires PMI at $ 112 monthly.
  • John and Mary’s monthly
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Written by Robert H. Ruth

There are 2 new realities in the Real Estate marketplace for this Spring. First, mortgage rates are going up, and it does not appear likely that this will change any time soon. Second, due to the shortage of housing inventory in the US, we are firmly in the grip of a seller’s market with prices rising at a rapid pace.

If you have been watching the news over the last few months you’ve probably noticed that mortgage interest rates have started going up. Thus far, the increase has not been dramatic: at the end of 2017 the average rate on a 30 Year Fixed Rate Mortgage was 3.875%, and today, March 21st, the beginning of Spring, the average 30 Year Fixed Rate is 4.625%. That is a rate increase or .75% in 3 months. This might

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Written by Robert H. Ruth

People attempting to buy a home are sometimes surprised by the true monthly cost of having a mortgage compared to what they are accustomed to paying each month for rent. So in an effort to help I have done the following exercise with some comparisons for you. This is intended to be a brief but informative little analysis so you can see how owning a home, and paying a mortgage, involves a little bit more than just comparing the payments.

Whenever I first sit down to discuss financing with buyers, I ask them how much their current rent is and what amount they would be comfortable paying each month on a mortgage payment. Let’s assume that a borrower is comfortable paying the same amount as they currently do for rent. I had

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Written by Robert H. Ruth

This is a question I deal with on a regular basis working with homebuyers, so I thought you might benefit from an explanation of the key difference between these 2 products. 

When I first speak with a new client who is looking to purchase a home, they frequently have been referred to me by a Realtor or a builder. The Realtor doesn’t want to spend time with people who are not able to purchase, or who do not know their price range for a purchase. So my job is to help the buyers understand the home buying process, and then determine the correct price range they should be shopping in and how much mortgage they can afford given their current income and monthly debt load. 

  • I do this by asking them careful questions that
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Written by Robert H. Ruth

If you are about to start looking for a home this Spring, you may come upon these terms. Beyond a simple definition for each of these, it is very important to know the different factors that define each, and how the different markets can impact a buyer.  This article will examine all these areas, and what may occur if we continue to see interest rates increase.

Seller’s Market Defined

A seller’s market exists when there are many more buyers seeking to purchase than there are homes available on the market. Stated differently, there are less houses available to satisfy a larger pool of buyers in the marketplace. This lack of listing inventory leads to rapid (at times excessive) price appreciation, very quick closings,

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Written by Robert H. Ruth

Over the past 2 weeks I have commented on the increased volatility in financial markets and the impact this volatility has had on mortgage rates. This volatility has happened before, many times. The situation now is to try and figure out whether the mortgage rate market is at a tipping point or if this is more of a transition.

The reality is that it is very hard to predict what will happen tomorrow today. So I’m not going to make any predictions about interest rates. I am going give you some targeted advice about how to react to these changes so you can make sound financing decisions

Volatility is here to stay (for now)

Due to the fact that the Federal Reserve is reversing their policies of quantitative easing

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