We’ve all heard home-buying horror stories. Sellers backing out or financing falling through can quickly kill a deal. But these snags don’t hold a candle to buying a “stigmatized” home. A home where paranormal activity, suicide, murder, cult activity or other misfortunes and crimes took place could be categorized as a stigmatized property. In real
DTI, PMI, LTV … TBH, it can be hard to keep all this stuff straight. This lexicon of real estate terms and acronyms will help you speak the language like a pro. Appraisal management company (AMC): An institution operated independently of a lender that, once notified by a lender, orders a home appraisal. Appraisal: An
Buyers and sellers sometimes have the option of entering into a dual agency relationship with their real estate agent. Although this is not necessarily a problem, you should be aware of exactly what a dual real estate agency means and the restrictions it can place on your agent. What is a dual real estate agency?
In today’s market, many buyers forego fixer-uppers for move-in ready homes. As a result, significant opportunities abound in prime locations as homes that need work linger on the market. In competitive markets, savvy consumers gravitate toward these homes that nobody else wants. Why? They can customize the home to their requirements and build equity along the
Buying or selling a home at the right time is tougher than it sounds. People usually take these actions because of a life event or financial issues, and the economy and real estate forecasts tend to be secondary considerations. Yet both buyers and sellers often pose the question, “When is the best time to buy
Some home buyers want new, modern and move-in ready. Others prefer older homes, with character and charm they can’t find in new construction. If you’re interested in historic homes, take these factors into consideration as you shop. Historic neighborhoods often impose restrictions Many towns throughout the U.S. have zoning and planning commissions that, among other things, set out
Homeownership may be a goal for some, but it’s not the right fit for many. Renters account for 37 percent of all households in America – or just over 43.7 million homes, up more than 6.9 million since 2005. Even still, more than half of millennial and Gen Z renters consider buying, with 18 percent seriously
If you’ve searched for a new place to live recently, you’ve likely seen the Equal Housing Opportunity logo (an equal sign inside a house) on a landlord’s, real estate agent’s or lender’s paperwork. But the Fair Housing Act is more than just a logo. It’s a federal law designed to protect renters and buyers from
Buyers and sellers often enter the market with misconceptions about real estate agents – how we work, how the process works and what the agency relationship is all about. It’s helpful to point out, without getting too far into the weeds, that in any one real estate transaction, there are most likely two agents: one
Getting a mortgage can be a breeze or a slog, depending on what you know about the process. To get organized and set your expectations properly, let’s debunk some common mortgage myths. 1. Lenders use your best credit scores If you’re applying for a mortgage jointly with a co-borrower, logic suggests that your lender would use