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Realities of Real Estate: Showing your home is key part of sales process
When you put your house up for sale, people will obviously need to come take a look at it. In real estate lingo, the process of having total strangers nose around your house is called a “showing.” This week, we thought we’d talk about how showings work, how to prepare for a showing and what […]
4th Circuit hears mortgage exec’s appeal
RICHMOND, Va. — A former mortgage company chief executive convicted of orchestrating a nearly $3 billion fraud scheme is asking a federal appeals panel to reverse his conviction and send the case back for a retrial. Former Taylor, Bean & Whitaker Mortgage Corp. owner Lee B. Farkas was convicted last year of six counts of […]
Realities of Real Estate: Motivation matters in buying, selling homes
Buyers and sellers of real estate don’t all have the same degree of motivation. Generally, we see three different types of customers. First, there are those who have an urgent need to buy or sell. Because of job change, financial difficulties, divorce or some other personal event, there are buyers and sellers who want to […]
Robert Nusgart: Don’t try to time market on your refinance
Did you notice that mortgage rates once again are moving lower? Rates for a 30-year fixed is now easily below 4 percent, and adjustable rates for a five-year ARM are close to 3 percent. So even if you refinanced a year ago, it is highly possible to refinance again and ask your lender to structure […]
Consumer watchdog weighs limits to mortgage fees
WASHINGTON — The government’s consumer-finance watchdog is weighing an overhaul of the fees consumers pay to obtain mortgages. The Consumer Financial Protection Bureau said Wednesday that it might ban origination fees that vary with the size of the loan, known as “origination points.” Lenders would charge the same flat fee for all loans. It also […]
Late payments on mortgages fall in 1Q nationwide; Md.’s increase
LOS ANGELES — The percentage of U.S. homeowners behind on their mortgage payments dropped in the first three months of this year to the lowest level since 2009, according to a new report. Some 5.78 percent of the nation’s mortgage holders were behind on their payments by 60 days or more in the January-to-March quarter, credit […]
Realities of Real Estate: Is it better to rent or buy?
These days, many people think that renting might be a better deal than making the leap to home ownership. Much of the decision is a function of your financial condition and overall ability to buy. For some, a poor credit rating or lack of cash on hand might put buying a home momentarily out of […]
Robert Nusgart: Get prepared to make loan qualifying easier
The real estate spring market is underway and you are finally thinking of purchasing a new home. The fun part is going out and looking at homes and envisioning your family settling into a beautiful new house with a rolling backyard, and a fresh kitchen with stainless steel appliances and granite countertops and first-floor master […]
Realities of Real Estate: 10 reasons sellers overprice their houses
When putting your house on the market, getting the initial list price right is critical in selling it in a reasonable time and at the highest possible price. Everyone wants to get top dollar; however, in their zeal to maximize their return on investment, some sellers try to justify a high sales price with rationalizations […]
Home sales fall in March as market stays weak
WASHINGTON — Americans bought fewer previously owned homes in March, a reminder that the housing market remains weak. The National Association of Realtors said Thursday that home sales fell 2.6 percent last month to a seasonally adjusted annual rate of 4.48 million. That followed a revised 4.6 million sold in February. A mild winter may […]
Realities of Real Estate: Preparing your house for sale
When you put your house on the market, there are a number of simple things you can do that will substantially increase its value. Some might cost you a few dollars; others won’t take anything more than a bit of your time. Your agent will use a variety of advertising to market your house, but […]
U.S. foreclosures drop 16% in 1st quarter
The number of foreclosure filings in the U.S. during the first quarter of 2012 was down 16 percent from the opening quarter of 2011, possibly signaling a “hairline crack” in the pent-up housing market, a new report released Thursday said. In Maryland, foreclosure filings decreased by 12.4 percent over the same period. The report, by […]
