Blog

Good mortgage news out of the mish-mash of Federal Agencies – Written by Norm Werner

The Federal Deposit Insurance Corporation, the Federal Government Agency in charge of setting the rules under which Fannie Mae and Freddie Mac will operate has finally released the final rules for Qualified Residential Mortgages (ORM). These rules join those already in place for Qualified Mortgages (QM) and define such things as the required (or not) down payment that banks should require for mortgages. The QRM rule provides a set of requirements a loan must meet to be considered safe and eligi

MORE...

How Older Homes Beat New Homes – Written by Blanche Evans

For a society that likes shiny new things, the latest research could foreshadow a surprising trend -- homebuyers choosing older homes over new construction.Why? The prices and operating costs can vary widely. In August 2014, the median sales price of new homes sold was $275,600, while the median price of older homes was $219,000. Taxes and insurance may cost less for an older home.People are often wowed when they go into a builder's model and see how beautiful it is. It has the latest bells a

MORE...

Five Areas To Focus On When Hiring A Home Inspector – By: Deidre Woollard

When you’ve found the home of your dreams you want to make sure that it really is as wonderful as you think. Years ago, home inspections weren’t a part of residential real estate transactions; buyers simply relied on their own impressions of the home and whatever the seller’s real estate agent told them. Today’s buyers are more cautious, and an inspection ordered by the buyer is a regular part of the real estate purchase process. Spending the fees for a home inspection can be well w

MORE...

Non-Disclosing Seller Has To Pay Listing Broker’s Legal Costs – Written by Bob Hunt

Hard as it is to believe, there have been occasions when a seller did not divulge all material facts about a property to the listing broker. "Oh, did I forget to tell you about the sink hole?" "Why would a buyer want to know that the toilets backed up last year? It's all fixed now." Etc. Etc. So, what happens if the undisclosed problem later becomes the subject of a law suit, and the listing broker gets dragged into the suit? Even if the broker is subsequently vindicated, he will still have

MORE...

What Could Possibly Go Wrong?!? (A Renovation Story) – Written by Sean Murty

There's an old home improvement story about a couple that started out wanting to hang a picture and ended up adding a second bathroom. Without the right mix of careful planning and a firm grip on the budget, renovations can get out of hand. Quickly! So what‘s a homeowner to do? I’ve been through it myself so let me tell you a couple of things that nobody told me so that you can avoid some of the pitfalls of moving ahead. Because as I found out the hard way, learning can be expensive!

MORE...