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Technology has given consumers the power of choice and expedited the entire realestate purchasing process. The past year has exposed a need for richer collaboration tools and better data that bring consumers, agents and loanofficers together in one system to minimize work and increase transparency for everyone involved.
Mortgage lenders are betting on down-payment assistance programs, buy-down options and renovation products to provide brokers opportunities to win in a market with mortgage rates nearing 8%, a lack of inventory and high home prices. “Brokers need now to control things they can control, like their costs, and give the consumer options.”
And with millennials emerging as the largest generation of homebuyers in today’s market, comprising 28% of all homebuyers, realestateagents need to master social media or they might miss out. Sixty percent of agents surveyed believe that social media provides higher quality leads than the MLS.
Local realestateagents, loanofficers and appraisers share what characteristics are currently defining their housing markets. I had one home recently that needed major cosmetic renovations and it ended up get-ting multiple offers, so it is still super competitive here,” she said. Annapolis, Maryland.
Whether it be through social media, connecting with realestateagents or going back to old-fashioned ways of knocking on people’s doors, they’ll have to focus on the purchase market going into the new year. Instead, they’ll be seeking to renovate their homes.”. Mortgage products expected to get love .
Realestateagents and loanofficers play an important role in ensuring appraisers have the necessary data to deliver reliable valuations. I had the opportunity to discuss some common questions people have about the appraisal process with Massachusetts realestateagent Kevin Vitali.
So many visitors have stopped by over the years, that they renovated the area to make it more visitor friendly, with better parking and a nicer observation area. Yesterday, the lender sent me some sales that the loanoffice obtained from the builder, that were supposed to support a higher opinion of value. It is free to visit.
Even if you have no plans to do serious home renovations, there should be a few essential projects on your to-do list. While most people choose to sell their home through a realestateagent, others feel more comfortable managing this type of situation themselves. And a big thank you to all in the realestate profession!
Many more homebuyers are competing for available houses, and renovations might not be as necessary as they were to sell competitively just a few years ago. Taking the time (and spending the money) to renovate before selling might cause you to miss out on this chance. Love your loan as much as you love your new house.
To do a home appraisal, an appraiser considers these main criteria: location, structural condition, additions or renovations, and recent sales of comparable homes, or comparable sales. Comparable sales play the most important role when determining valuation, says Rick Phillips , an appraiser and realestateagent in Vienna, VA.
To do a home appraisal, an appraiser considers these main criteria: location, structural condition, additions or renovations, and recent sales of comparable homes, or comparable sales. Comparable sales play the most important role when determining valuation, says Rick Phillips , an appraiser and realestateagent in Vienna, VA.
Kitchen and bathroom updates are some of the first ideas that usually come to mind, but you can get great returns from making outdoor renovations and improvements. We talked to realestate and renovation experts to gather their tips and insights on renovation projects for your home’s exterior living space.
Picking the Right RealEstate Team When looking for a support system for buying a home as a veteran, you may look to your friends and family first — along with a realestateagent. However, your realestate team should also be carefully curated to be informed of veteran affairs.
Some homebuyers are intimidated by foreclosed and bank-owned homes because they often require more renovations — and a different type of negotiation — than other options on the market. Realestateagent: A realestateagent will be able to find REO offerings from multiple lenders in your desired area.
It’s also the question most realestateagents and housing authorities are asking: “When will sellers start returning to the market?” Click here to find a knowledgeable local loanofficer who can help you sell fast. What really sticks out about this summer is a lack of seller competition. Got questions?
Homeowners aren’t sure if they’ll need to renovate to receive a competitive offer. Since inventory is so tight, many more homebuyers are opting to take on renovation projects themselves so they can nab the home they have their eye on. ” – Click here to find a Cornerstone loanofficer near you.
Maybe you’ve tried contacting a realestateagent, who probably told you to call back after you’ve been “preapproved.” Immediately, the question arises: How do you start the process of getting a mortgage loan? If you’re buying for the first time , the mortgage loan process can be confusing and unfamiliar.
Acre lot Built in 2000 and recently renovated, the main estate and guesthouses offer a total of 7,455 square feet of living space. Marketing to private money lenders Remember the old mortgage broker days of visiting an office and chatting with loanofficers? Many referrals come from realestateagents.
If you want to downsize because you’re looking for a different layout for your home or to have different amenities, consider whether it might make more sense to reorganize or renovate your current home. Many homeowners whose needs change often decide to take out a second mortgage to fund their renovations. Linked sources: [link].
These are just a few examples, talk to your realestateagent and lender about additional, specific programs that may be able to help you. Through this program , the Federal Home Loan Bank of Des Moines provides up to $15,000 per eligible household to help with down payments, closing costs, home repairs, and more.
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