Thursday, May 26, 2011
Maryland Real Estate by Pamela DuBois: Getting pre-approved buy finding your dream home
Maryland Real Estate by Pamela DuBois: Getting pre-approved buy finding your dream home: "A long time ago, you would find the perfect home and then try to find the loan to fit your needs. In today's market, you have to find the p..."
Getting pre-approved buy finding your dream home
A long time ago, you would find the perfect home and then try to find the loan to fit your needs. In today's market, you have to find the perfect loan before you find the perfect home. With so many changes in the lending business, it's important to make sure you have a secured loan that best suits your needs.
I can provide you with the names of several mortgage lenders and can help you compare their programs. Some lenders may have great rates, but may have very conservative standards for qualifying customers. Others may be more willing to consider people who are marginally qualified or have less-than-perfect credit histories. Some lenders have local underwriters and can process loans quickly, while others may need extra time to process paperwork. The ordinary consumer deals with only a few mortgage lenders over a lifetime but I deal with many lenders every month. I can help you match your individual needs to the many offerings in this complicated marketplace.
Working with referrals and people you can trust will help make your home buying process smooth.
I can provide you with the names of several mortgage lenders and can help you compare their programs. Some lenders may have great rates, but may have very conservative standards for qualifying customers. Others may be more willing to consider people who are marginally qualified or have less-than-perfect credit histories. Some lenders have local underwriters and can process loans quickly, while others may need extra time to process paperwork. The ordinary consumer deals with only a few mortgage lenders over a lifetime but I deal with many lenders every month. I can help you match your individual needs to the many offerings in this complicated marketplace.
Working with referrals and people you can trust will help make your home buying process smooth.
Thursday, May 19, 2011
Maryland Real Estate by Pamela DuBois: Selling a home in Montgomery County, MD
Maryland Real Estate by Pamela DuBois: Selling a home in Montgomery County, MD: "Selling a home can be a stressful experience or a happy experience. Making the decision to sell is a big decision, whether it's for moving..."
Selling a home in Montgomery County, MD
Selling a home can be a stressful experience or a happy experience.
Making the decision to sell is a big decision, whether it's for moving up or job transfer to a different area. It may be an emotional parting. After all, leaving the place you’ve raised a family and built friendships has to be a very hard decision. Then again, you may be happy to leave where you are and move on to a new start with new beginnings. It's a happy experience and you are ready to move on. The change may be something that you're looking forward to....ready to move on....
In the past few months, I've met with sellers that are happy to be able to move on with a new start. It's not always a stressful experience. Lately it's been about getting rid of a higher mortgage and a home that is going down in value.
There are lots of emotions out there in the Real Estate world.
Making the decision to sell is a big decision, whether it's for moving up or job transfer to a different area. It may be an emotional parting. After all, leaving the place you’ve raised a family and built friendships has to be a very hard decision. Then again, you may be happy to leave where you are and move on to a new start with new beginnings. It's a happy experience and you are ready to move on. The change may be something that you're looking forward to....ready to move on....
In the past few months, I've met with sellers that are happy to be able to move on with a new start. It's not always a stressful experience. Lately it's been about getting rid of a higher mortgage and a home that is going down in value.
There are lots of emotions out there in the Real Estate world.
Maryland Real Estate by Pamela DuBois: Buying a Home in Montgomery County, MD
Maryland Real Estate by Pamela DuBois: Buying a Home in Montgomery County, MD: "Buying a home requires careful planning and I take this job very seriously. Many factors can affect the present and future value of a home. ..."
Buying a Home in Montgomery County, MD
Buying a home requires careful planning and I take this job very seriously. Many factors can affect the present and future value of a home. I can help you find the right home, help you negotiate for the best home price, and give you a report of the homes in the neighborhood, what is being offered and what they've sold for in the recent months. I can also provide you with a list of reputable lenders with programs that will best fit your needs for this process. I am an Acredited Buyer's Agent. I will help you throughout the buying process and do everything possible to make sure you have a smooth, stress free experience in buying your home, whether it be your first or you're moving up OR buying investment property.
Maryland Real Estate by Pamela DuBois: Home prices are low, interest rates are low - real...
Maryland Real Estate by Pamela DuBois: Home prices are low, interest rates are low - real...: "Home prices are low, interest rates are low - real estate is basically having a summer clearance sale! But unlike buying a clearance-priced ..."
Home prices are low, interest rates are low - real estate is basically having a summer clearance sale! But unlike buying a clearance-priced car or computer, making the wrong move in this real estate sale can have disastrous effects, from losing your dream home due to a bad bid to ending up with a money pit of a property. Here are a few money-saving, pitfall-avoiding tips and tricks for buyers who want to do some smart home shopping this summer.
If there's work to do in the home, get an estimate of what it's going to cost you from a professional in the field instead of estimating yourself. This will give you a clear idea of whether the property is worth it or not once you have an estimate of how much it's going to cost you.
Know the market and the area where you are buying so you don't over-bid on a property that is a foreclosure or short sale. There may be more than one offers on those homes.
Check with reputable lenders on rates and programs that will help with the lowest monthly payment.
It's a great time to buy, the rates are low and there are some great deals out there. Take advantage of the owning your first home or moving up into another home.
If there's work to do in the home, get an estimate of what it's going to cost you from a professional in the field instead of estimating yourself. This will give you a clear idea of whether the property is worth it or not once you have an estimate of how much it's going to cost you.
Know the market and the area where you are buying so you don't over-bid on a property that is a foreclosure or short sale. There may be more than one offers on those homes.
Check with reputable lenders on rates and programs that will help with the lowest monthly payment.
It's a great time to buy, the rates are low and there are some great deals out there. Take advantage of the owning your first home or moving up into another home.
Tuesday, May 17, 2011
Maryland Real Estate by Pamela DuBois: The most important thing to look for when you are ...
Maryland Real Estate by Pamela DuBois: The most important thing to look for when you are ...: "The most important thing to look for when you are shopping for a mortgage is the interest rate, right? Not necessarily. There are many other..."
The most important thing to look for when you are shopping for a mortgage is the interest rate, right? Not necessarily. There are many other factors to consider, including the lender's charges for making the loan, the terms under which the loan will be approved, and the lender's reputation for timely completion of loan applications to meet purchase agreement deadlines.
When I'm involved in sales transactions, I will give you companies that have a good reputation and can get the job done for you. I can provide the names of established lenders in the area who have provided good service to my customers. They can give general information about the different mortgage options that are available today. Using a low interest rate as the main criteria for choosing a mortgage could cost you money--and perhaps the home you want--if the company cannot deliver on its promises.
I make sure you work with someone that is reputable and can give you market rates. They believe in helping you get the best rate and will help in making sure it's stress free as possible.
When I'm involved in sales transactions, I will give you companies that have a good reputation and can get the job done for you. I can provide the names of established lenders in the area who have provided good service to my customers. They can give general information about the different mortgage options that are available today. Using a low interest rate as the main criteria for choosing a mortgage could cost you money--and perhaps the home you want--if the company cannot deliver on its promises.
I make sure you work with someone that is reputable and can give you market rates. They believe in helping you get the best rate and will help in making sure it's stress free as possible.
Saturday, May 14, 2011
Maryland Real Estate by Pamela DuBois: Mortgage Rates are Lowest in Decades - Buy a home ...
Maryland Real Estate by Pamela DuBois: Mortgage Rates are Lowest in Decades - Buy a home ...: "While nobody can accurately predict what the future holds for mortgage interest rates, the fact remains that they are historically low. It ..."
Mortgage Rates are Lowest in Decades - Buy a home NOW
While nobody can accurately predict what the future holds for mortgage interest rates, the fact remains that they are historically low. It is difficult to justify the risk in floating when the excellent rates currently available are a sure thing.
Timing is one of the most important factors in success. Unfortunately, knowing the perfect time to lock in a loan is impossible until after the fact. While analysts constantly try to predict the future, the bottom line is they continually fall short in terms of accuracy. Recent history is a testament to this. At the end of last year analysts overwhelming predicted low rates for the months ahead. The first quarter of this year saw rates generally increase. Fortunately there has been a recent reprieve but things still remain volatile. The movements over the past 5 months show the challenge of making predictions.
The good news is that the current low interest rates are here now. It is possible for rates to improve. However, if rates move higher, they are likely to spike fast and furiously with inflation fears looming. A cautious approach is necessary to protect against market volatility.
Take advantage of these lows rates while they last. Don't wait for it to go lower because it may just go up. A risk that may not be worth it.
Timing is one of the most important factors in success. Unfortunately, knowing the perfect time to lock in a loan is impossible until after the fact. While analysts constantly try to predict the future, the bottom line is they continually fall short in terms of accuracy. Recent history is a testament to this. At the end of last year analysts overwhelming predicted low rates for the months ahead. The first quarter of this year saw rates generally increase. Fortunately there has been a recent reprieve but things still remain volatile. The movements over the past 5 months show the challenge of making predictions.
The good news is that the current low interest rates are here now. It is possible for rates to improve. However, if rates move higher, they are likely to spike fast and furiously with inflation fears looming. A cautious approach is necessary to protect against market volatility.
Take advantage of these lows rates while they last. Don't wait for it to go lower because it may just go up. A risk that may not be worth it.
Monday, May 9, 2011
Buyers - Mortgage Rates are the lowest in decades - Buy NOW
Mortgage rates dropped for the third week in a row to their lowest point this year on signs of economic weakness, Freddie Mac said in releasing the results of its latest Primary Mortgage Market Survey.
Rates on 30-year fixed-rate mortgages averaged 4.71 percent with an average 0.7 point for the week ending May 5, down from 4.78 percent last week and 5 percent a year ago.
The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, and so far this year has ranged from 4.71 percent in early January to a high of 5.05 percent in February.
Rates on 15-year fixed-rate mortgages averaged 3.89 percent with an average 0.7 point, down from 3.97 percent last week and 4.36 percent a year ago. That's a new low for 2011, but well above the all-time low in records dating back to 1991 of 3.57 percent, set in November.
Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.47 percent with an average 0.6 point, down from 3.51 percent last week and 3.97 percent a year ago. The 5-year ARM hit a low in records dating to 2005 of 3.25 percent in November.
Rates on 30-year fixed-rate mortgages averaged 4.71 percent with an average 0.7 point for the week ending May 5, down from 4.78 percent last week and 5 percent a year ago.
The 30-year fixed-rate mortgage hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, and so far this year has ranged from 4.71 percent in early January to a high of 5.05 percent in February.
Rates on 15-year fixed-rate mortgages averaged 3.89 percent with an average 0.7 point, down from 3.97 percent last week and 4.36 percent a year ago. That's a new low for 2011, but well above the all-time low in records dating back to 1991 of 3.57 percent, set in November.
Rates on 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loans averaged 3.47 percent with an average 0.6 point, down from 3.51 percent last week and 3.97 percent a year ago. The 5-year ARM hit a low in records dating to 2005 of 3.25 percent in November.
Thursday, May 5, 2011
Loans and down-payment programs can help you buy a home
The lending industry has tightened their criterias. However, there are still programs available to help you get into a home. Rent prices are on the rise and despite all the news, you can still buy and get help with closing and down-payment.
Nationwide, rents started edging up last year after several years of little growth or even declines, market researcher Reis says. It predicts apartment rents will jump 4.3% this year, marking the biggest annual increase in four years. MPF Research, which also monitors apartment rents, expects them to rise more than 5% this year, says Greg Willett, MPF Research vice president.
Job growth is driving much of the increase. As more people get jobs, people who doubled up in homes during the recession, especially younger workers, move out on their own, says Ryan Severino, Reis senior economist. Many of those workers are choosing to rent rather than to buy, because of dropping U.S. home values and tight lending standards that make it harder to buy homes, Severino says.
Lack of construction is also helping rents. This year, just 40,000 new apartment units are expected to be added to the U.S. supply, Reis says. That's down from about 130,000 new units each year for much of the past decade.
Apartments make up about half the nation's rental supply, Willett says. Single-family homes and condominiums account for the rest.
Take time to investigate about buying instead of renting. You may be happy with the results.
Nationwide, rents started edging up last year after several years of little growth or even declines, market researcher Reis says. It predicts apartment rents will jump 4.3% this year, marking the biggest annual increase in four years. MPF Research, which also monitors apartment rents, expects them to rise more than 5% this year, says Greg Willett, MPF Research vice president.
Job growth is driving much of the increase. As more people get jobs, people who doubled up in homes during the recession, especially younger workers, move out on their own, says Ryan Severino, Reis senior economist. Many of those workers are choosing to rent rather than to buy, because of dropping U.S. home values and tight lending standards that make it harder to buy homes, Severino says.
Lack of construction is also helping rents. This year, just 40,000 new apartment units are expected to be added to the U.S. supply, Reis says. That's down from about 130,000 new units each year for much of the past decade.
Apartments make up about half the nation's rental supply, Willett says. Single-family homes and condominiums account for the rest.
Take time to investigate about buying instead of renting. You may be happy with the results.
Tuesday, May 3, 2011
Maryland Real Estate by Pamela DuBois: Homes are selling despite what the media is saying...
Maryland Real Estate by Pamela DuBois: Homes are selling despite what the media is saying...: "One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sa..."
Maryland Real Estate by Pamela DuBois: Homes are selling despite what the media is saying...
Maryland Real Estate by Pamela DuBois: Homes are selling despite what the media is saying...: "One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sa..."
Homes are selling despite what the media is saying
One of the biggest misconceptions in today’s housing market is that homes are not selling. That is simply not true. Last month’s Existing Sales Report from the National Association of Realtors (NAR) showed that homes were selling at an “annual rate of 5.10 million”. That’s an average of 13,973 every day – 365 days a year!
And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed increases in six of the last nine months prompting Lawrence Yun, NAR’s chief economist to say:
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely.”
We realize that 40% of the sales are distressed properties and that 22% of buyers are investors. Yet, that still doesn’t negate the fact that homes are in fact selling… and 60% of them are NOT foreclosures or short sales.
And Yun believes this uptick will continue:
“Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year.”
Bottom Line
Homes are selling. You probably will need to offer a compelling price if you put your house on the market. But if you do, it will sell.
And the monthly Pending Sales Report, which measures the number of houses going into contract each month, has showed increases in six of the last nine months prompting Lawrence Yun, NAR’s chief economist to say:
“Since reaching a cyclical bottom last June, pending home sales have posted an overall gain of 24 percent and demonstrate the market is recovering on its own. The index means modest near-term gains in existing-home sales are likely.”
We realize that 40% of the sales are distressed properties and that 22% of buyers are investors. Yet, that still doesn’t negate the fact that homes are in fact selling… and 60% of them are NOT foreclosures or short sales.
And Yun believes this uptick will continue:
“Based on the current uptrend with very favorable affordability conditions, rising apartment rents and ongoing job creation, existing-home sales should rise around 5 to 10 percent this year.”
Bottom Line
Homes are selling. You probably will need to offer a compelling price if you put your house on the market. But if you do, it will sell.
Maryland Real Estate by Pamela DuBois: Helping buyers find the right home
Maryland Real Estate by Pamela DuBois: Helping buyers find the right home: "When I help prospective buyers locate a new home I listen carefully to their goals. What are their criteria for selecting a neighborhood, wh..."
Helping buyers find the right home
When I help prospective buyers locate a new home I listen carefully to their goals. What are their criteria for selecting a neighborhood, what style of house do they prefer, what price range and floor plan meet their needs? Will any special considerations go into making the home buying decision? When I have a good picture of what the buyer wants, I will go to work to find the best property on the market that will accommodate those needs.
I succeed when I can make the buyers' goals my goals. Finding the perfect home is a collaborative effort. The buyers communicate what they want, why they want it, and where compromise might be possible, and I listen carefully to select the homes that come as close as possible to meeting the needs expressed. When there is trust and communication between the buyers and myself, miracles can happen! Creating these miracles for buyers and sellers is "Job #1" for us.
I succeed when I can make the buyers' goals my goals. Finding the perfect home is a collaborative effort. The buyers communicate what they want, why they want it, and where compromise might be possible, and I listen carefully to select the homes that come as close as possible to meeting the needs expressed. When there is trust and communication between the buyers and myself, miracles can happen! Creating these miracles for buyers and sellers is "Job #1" for us.
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