Why is there such a difference between what my appraised value is and the price similar homes are selling for on my street? It’s a great question, and you don’t have to be a mortgage professional or a real estate agent to understand the answer. The distinction lies in the purpose of the two valuations [...]
A few years ago, when home values were just going up, most homeowners did not question appraisals much. It was the best of times. Over the past two and a half years, home sellers and even listing agents quite often question and pick apart appraisals. It was the worst of times. A Tale of Two [...]
It’s obviously easier to picture the process of estimating value on an existing property in a neighborhood that has a history of home sales, but the task of determining the value on new construction projects does pose some challenges. Appraisals on homes that haven’t been built yet generally require the contractor and home buyer to [...]
A Home Owner Association (HOA) can have a huge impact on your life when you buy a home in a PUD (Planned Unit Development) or Condominium Project. According to Wikipedia: A homeowners’ association (abbrev. HOA) is an organization created by a real estate developer for the purpose of developing, managing and selling a development of [...]
This question was posted on our website recently. It is a complicated question with a very simple answer. If you want to purchase a home that needs some repairs and would like to include the repairs in your loan, the way to do it is with an FHA 203k Streamline. This loan works no matter where you are and is one of the easiest ways to get your home in tip top shape once you purchase it. The Eugene/Springfield, Lane County Oregon area has some prime properties that this is an exceptional way to advance. Here is the question:
Recently, the U.S. Treasury announced some new measures to assist homeowners that are having trouble making their mortgage payments. They specifically address two areas of concern with programs aimed at alleviating some of the roadblocks that these borrowers are facing. One of the focuses is on loan modifications. This is a scenario where the lender modifies [...]
The real estate market in St. Louis combined with the low interest rates of FHA mortgage makes buying your next new home, especially if you are a first time home buyer, an opportunity of a lifetime! Financial wizard Warren Buffet says; “A simple rule dictates my buying: be fearful when others are greedy and be greedy when [...]
You read my last post about buying a foreclosure and the problems and solutions to getting it done, including being pre-approved to purchase the home through a knowledgeable and trustworthy lender. That is a great first step, finding out what you can and can’t afford to buy. Too many first time home buyers try to get the cart before the horse and start looking at homes before they know what they can afford, a very important first step. Now, for step two, let’s talk about an equally important second step, finding the right Realtor®.
Buying a home vs. renting is a big decision that takes careful consideration. For many years, purchasing real estate was considered an extremely profitable investment. Over the past view years many have held off, due to the Housing bubble burst and the declining market values due to the historic credit crisis.
*This is not an offer to lend. 
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