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Tagged : Real Estate Advice

Found 47 blog entries tagged as "Real Estate Advice".

  • By Steve Rockefeller 

The most recent National Association of Realtors profile shows that 40 percent of repeat buyers and 66 percent of first-time homebuyers are putting less than 10 percent down. Understanding all of your low-down-payment mortgage options may aid you in obtaining a mortgage while helping to save money.

Different types of mortgages can be tailored to purchase a home. If you’re looking to use a conventional loan and you made a down payment of less than 20 percent of the home’s value, you’re probably going to need mortgage insurance, commonly known as PMI. If using, for example, a government FHA loan, you’re going to need mortgage insurance, known as MIP. Confusing I know.

With the lowest of

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Wait. That has to be a typo, right?

Ha. No, it's not! As usual, our friend over at Keeping Current Matters came up with an excellent piece on this reality that so many aren't even aware of. Read more, then let us know what you think! 

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There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide:

  • Greater exposure to more buyers
  • The skills of a professional negotiator
  • A layer of protection from possible legal liabilities
  • Professional guidance in navigating any pitfalls that may arise
  • A level of safety while showing the home

There is no doubt that these services are valuable to any family that decides to sell. The only question is – how

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We always love when great information lands in our inbox, that we can in turn share with our community here on the blog. Thank you so much to Patrick Steele, one of our trusted "mortgage dudes" for sending this one our way! :)

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Mortgage rates technically hit their lowest levels in exactly 2 months yesterday.  Today merely takes them deeper into that territory.  The size of the improvement is less impressive and less meaningful compared to that "lowest in more than 2 months" talking point.   That said, taken in conjunction with the last 4 business days, the average lender is roughly an eighth of a percentage point lower.  That comes out to $7/mo for every $100k financed (or $21/mo on a $300k loan).

On a somewhat frustrating note,

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It is highly likely that the home you currently own (or will buy some day) won't be your forever-home. Families change, from size to dynamics, jobs change from pay to location. Needs change from large yards to extra bedrooms. Thus it is a wise thing to consider... What is important to the NEXT person who buys that home (from you!) may be different from what was important to you (and your family). 

Are you buying a FOREVER home... or a FOR NOW home? Most of us buy a FOR NOW home... which means you DEFINITELY need to put on a seller's cap at some point- why not try it on, now?

Here's a few just to get the thought process started:

1.) You: Schools really aren't that important to us (we don't have kids/aren't planning on having kids/ we plan on home

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Mortgage Matters: Is an approval an approval?

  • By Steve Rockefeller 

Historically low mortgage interest rates have continued to spur home sales in Hampton Roads. If you’ve been thinking about buying a new house, or perhaps your first house, this may be the time to commit and jump into the marketplace. The key, however, is gaining loan approval.

Just when you thought the “F” word was a four letter word, when applying for a mortgage loan it is a five-letter word spelling “FRAUD.” Because of the sins of the housing industry’s past, along with what appears to be a constant mountain of foreclosures, every lender in the nation at every level of their company is charged today with preventing mortgage fraud. If you

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Do you think that FSBO, or "For Sale By Owner" sounds easy?

Or even if it's just a bit of work on your end as the seller, it will TOTALLY be worth the money you save.... right?

Not so fast... check out this honest writeup from the National Association of Realtors:

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You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s regret” when they see how much less they get for their properties.  Some may want to avoid paying an agent's commission—but even factoring that in, FSBOs still stand to make less on their home sale. “Talk to an agent and find out what they suggest for the commission, and then do the math

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We hear these names as they come up as tropical storms.... but where do the actual names come from? Find out more below!

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Tropical storms have been named for 2017, so here is the list of hurricane names for the Atlantic Basin (Miami hurricanes) and Eastern North-Pacific (California hurricanes). Is your name listed?

HOW ARE HURRICANES NAMED?

  • Native Americans called these storms Hurakons, after “a great spirit who commanded the east wind.” Spanish explorers adopted the word and then began giving hurricanes the names of patron saints on whose feast days the storms occurred. Later, hurricanes were identified by their longitude and latitude.
  • A weatherman in Australia is credited with being the first person to name a
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Who doesn't deal with some dead-zones, here and there? If you don't... you're LUCKY! 

If you do... there's NO PLACE more annoying to have spotty service than IN YOUR HOME!

Check out these tips from PopSci (Popular Science) on how to deal with those in home dead zones:

Try a messaging app

If Wi-Fi calling doesn’t work for you, and you’re unwilling to buy a new phone, you can still try another solution—though none of them are quite as seamless.

Most messaging options—like Facebook Messenger, WhatsApp, and Skype—allow you to make voice calls and send messages to any of your friends within those apps.

There’s a good chance most of your contacts are on Facebook anyway, so that’s a decent option—but it isn’t always as reliable as text

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For homeowners interested in selling in the Hampton Roads area, 2018 is starting off as a seller’s market. January’s number of active listings and the months supply of inventory continued to decline year-over-year, even as sales rose.

Overall, the region’s residential active listings were down 6.87% year-over-year for the month of January, with 8,773 available homes. The area’s active inventory has declined year-over-year for 30 consecutive months. Each of the region’s seven major cities (Norfolk, Virginia Beach, Portsmouth, Chesapeake, Suffolk, Hampton and Newport News) experienced decreased inventory except for Virginia Beach, which was up a modest 1.37%. Norfolk had the most significant drop in inventory for January, down 16.25% year-over-year.

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