Author: Mortgage Blog Content
24
Apr
2020
When you are in the process of buying a home, there are a lot of moving parts that need to work together. It can be hard for you to keep track of everything that has to happen, particularly if you are going through this process for the first time. With this in mind, there are a few basics that you should remember when you are looking for a home loan. Work With A Professional It is critical for you to work with a real estate agent who can act as a guide during this process. A real estate agent has taken plenty of individuals and families through the process of finding…
24
Apr
2020
Whether you're a buyer or a seller, a home appraisal is a critical component of the home selling process. An appraisal is also required in situations where a home is gifted to a family member, so it's important to have a clear understanding of what it entails. What Is A Home Appraisal? A home appraisal is an unbiased estimate of a home's fair market value conducted by a professional appraiser. All 50 states require that appraisers be licensed and/or certified and demonstrate knowledge of the specified area. The purpose of a home appraisal is to determine whether the home's asking price is appropriate based on its location, condition, size, and amenities.…
23
Apr
2020
For many months, the COVID-19 (Corona-virus) pandemic appeared to be a problem that only existed in foreign lands. Now, this virus has arrived on the shores of the United States and has disrupted jobs, hospitals, and lives. People are being asked to practice social distancing measures to curtail the spread of the virus while some parts of the country are being asked to stay home entirely. The good news is that there are still ways for people to remain social while being safe. Get Outside Safely One of the first tips that people need to remember is that they are still allowed to go outside. Even in states that are telling…
22
Apr
2020
Recent advancements in technology continue to disrupt the real estate market. This includes the use of "Big Data" for data mining, artificial intelligence combined with machine learning, augmented and virtual reality, use of drones, blockchain technology, and the ongoing deployment of 5G. The Use Of Big Data Consumers have access to more information about real estate market conditions because of the collection and online presentation of the results of data mining "Big Data." For example, it is easy to learn if a market is a buyer's or a seller's market by searching for the median number of days a house will be on the market before it sells in a certain…
21
Apr
2020
Those who are involved in the real estate industry likely know that mortgage rates are at an all-time low. At the same time, nobody wants to pay more for a house than they have to. Some of the most important factors that dictate how much someone is going to pay for a house include points and interest rates. While interest rates are incredibly low, there is a way to make them lower. This comes in the form of points. This is additional money that is paid upfront to get a better deal over the life of the loan. Even though this sounds great in theory this might not be the best…
20
Apr
2020
Last week’s scheduled economic reporting included readings on home builder sentiment, housing starts and building permits issued. Weekly reports on mortgage rates and initial jobless claims were also released NAHB: Homebuilder Confidence Crashes as Coronavirus Impacts Construction Homebuilder sentiment concerning housing market conditions dropped significantly in April according to the National Association of Home Builders Housing Market Index. April’s index reading of 30 was the largest month-to-month drop recorded since the Housing Market Index started 30 years ago. Homebuilder confidence was 42 points lower than the March reading of 72 and was the lowest reading since June 2012. Index readings over 50 indicate that most builders are confident in current market…
