Found 6 blog entries tagged as Interest Rates.

IMPERSONATING TODAY’S AGENT

By Buddy Kane


Greetings...

 BK comin at you with another self-realization to help you all feel better about yourselves.

As the misfit I appear to be as an agent, I’m little more than an imposter in the local real estate industry and all its foibles. How could I possibly fit the mold of an accepted agent in this elite club even if I wanted to? I don’t close a volume of deals. I don’t receive Gold, Platinum, Titanium, Round Table achievement awards, and I don’t drive a Range Rover. I’m doomed to remain a mid to low level agent that leverages a real estate license as merely one stream of income amongst other revenue sources.

A “loser”, some may say. Guilty as charged, I suppose…

So why do I assume this…

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SHOW YOUR WORK

By Buddy Kane

 

 

 

Got a call last week from a past client interested in selling one of his properties. Having dealt with him previously, I was well versed in his fly by knight style and approach. Upon fielding his inquiry, I listened with an experienced awareness, knowing what cues to look for that would help me cut through an extended dialogue and boil it down to exactly what it was he wanted from me. What ensued from this point was an opportunity to apply an evolving philosophy I’ve learned the hard way over a longer period of time.

First, some background to provide context. Looking back on my student years, school was not my finest hour, aside from some extra-curriculars. Academics was never a strong suit of…

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 Chances are good your buyers are not approved at all…they’ve only been pre-qualified

Shocking headline, isn’t it?  Hard to hear the truth sometimes, but I am going to tell you that in my experience, the bulk of Pre-Approval letters being given to Real Estate agents by Loan Originators are just plain worthless.  They are being written to get the buyers a house, but the protection/reassurance the seller is looking for that tells them the buyers really are qualified does not exist.  Welcome to Fantasy Island.

My intention in writing this is two-fold: first, to let you know about this situation, and second, to give you some suggestions for getting a comfort letter that is worth the paper it is printed on.

Frequently a Realtor will refer me one of…

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Written by Robert H. Ruth

Every year since 2013 the National Association of Realtors (NAR) has published a report looking at trends among buyers and sellers in the Real Estate Industry from the previous year. I’ve always eagerly anticipated this report because it provides excellent insights into the composition of the Real Estate marketplace. This year I thought I’d share some of the more significant findings that are pertinent to home buyers since that is the focus of my blog posts here. If you want to see the report for yourself, I have provided a link for you to download a pdf version here: CLICK HERE

The introduction of the report has much useful information about the composition of buyers in the Real Estate marketplace .  Here are what I…

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Written by Robert H. Ruth

This is a topic I discuss with borrowers most every day, so I thought you’d like to know the components of your credit score.  According to Fair Issac Corporation (FICO), “the score is calculated from many different pieces of data in your credit report, and the data is grouped into the 5 categories below.” Here they are with the approximate weighting assigned to each category:

 

  • Payment History : 35%
  • Amounts Owed :  30%
  • Length of Credit History:15%
  • New accounts Opened :10%
  • Mix of Credit :10%
  • Total: 100%

Let’s see what each category represents:

Payment history: 35%

This tells whether you have paid your credit card accounts on time in the past.  If you make all your payments on time each…

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(Written by Bob Ruth) The first step in buying a home is deciding how much of a payment you can afford. This is usually done with the help of a loan officer who will try to get you pre-qualified for the necessary financing to buy a house. Getting pre-qualified before you go and look at houses is the best option in my opinion for 3 reasons :


1 -  You'll go out knowing how much you can afford which saves time.

2 – You’ll be less likely to look at houses that are beyond your ability to purchase...nothing is worse than falling in love with a house only to find out that you cannot get the financing because it is beyond your means financially.

3 -  The Realtor will be able to negotiate more effectively for you due to the fact that you can tell…

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