Entries from Searchlight Crusade tagged with 'markets'

What Types of Mortgages Are Available?

So what else is available, besides the thirty year fixed rate loan? There are many kinds of loan out there. Here's a quick overview: A Paper In addition to the thirty year fixed, there are several other varieties of fixed...

Why You Should Not Walk Away From Real Estate Because You Owe "More Than It's Worth"

I keep reading stuff on the internet advising people who are upside down to just walk away if they are a upside down on their mortgage. This has got to be right up there with the worst financial advice...

How to Succeed at Low Balling on Real Estate

A while ago now, I spent several hours showing properties I had found to a couple of investors. One was a lender owned fixer, fairly priced at $440k. It needed carpet, paint, landscaping, and some facade work. The last comparable...

Mortgage Markets and Providers and Yield Spread Explained

There are actually several distinct marketplaces consumers can obtain their funds from, and several types of providers. John the wealthy highly salaried person with great credit and a substantial down payment should not and usually does not obtain his mortgage...

There Are No Schools That Teach What A Good Agent Needs to Know

I find it fascinating the number of people who will claim that because no college degree is required to become a real estate agent, that agents can't possibly be worth any significant amount of money. The reason no college...

Negotiations After the Purchase Contract: Seller's Allowances and Fixing Problems

I had made a request to repair that included $3700 credit for closing costs. I wanted to get things done like safety issues and more critical maintenance issues done. Our estimate said that it would be about $4900 to...

Pocket Listings: Out of Sight, Out of Mind

Every so often, you will see references to a "pocket" listing. These are usually bad for owners, and usually bad for buyers, but good for agents. A "pocket listing" is one where there agent keeps the listing "in his pocket"...

Conforming and Jumbo Only Apply to "A Paper" Conventional Financing

This is something that many folks don't understand about the loan market. The labels "conforming", "jumbo" or, more accurately, "non-conforming" (and "temporary conforming" when we had it) only apply to so-called "A paper" loans, largely underwritten through Fannie Mae...

Virtues of the US Real Estate Loan Market

The scope of the problems that exist in the United States consumer mortgage market are huge. Enormously, mind-bogglingly, "How Big Is Space?" type huge. Yet, the problems are almost entirely on a retail level, when one provider works with one...

Buy Now vs. Wait: Some Practical Hypotheticals

The original appeared in April 2006, but has been updated for changes I am hoping to buy in the (city) area and am reviewing the possibilities. While I fear that the local market may be peaking, I intend to live...

Agents "Buying" Listings: Promising the Undeliverable and Hurting Their Clients

Quite a lot of the time when I view a property, I get requests for feedback. Usually it's an automated email. Other times, it's some office assistant who wants to fax me a form which will "only take a...

What is Real Estate Worth?

One of the most common questions in real estate is "What is this property really worth?" The easy answer is the same as the deepest, most profound one I can come up with, "Whatever you can get someone to pay...

Trying to Buy Real Estate Below Market

This question: What real estate office can I trust to help buy below market house in (location) California? brought someone to the site and I have not previously written a real answer to the question. The short answer is "nobody."...

What is Reasonable Loan Officer Compensation?

I get people asking me about how much their mortgage loan providers make, usually with an idea towards negotiating it down but often with the idea of choosing one loan or the other based upon the loan officer's compensation. This...

Debunking "Lenders Are All The Same"

Just like Mohandas Gandhi and Genghis Khan and Attila the Hun were (despite their differences) all human beings, lenders (despite their differences) make money by lending money to people who want it. That's about the limit of the truth in...

Pretending the Service Equation is Simpler Than It Is

Way back when I was just out of high school, I was doing a lot of things with my time. Working, dating, competing on the fencing team, gaming of various sorts. But every once in a while, I dropped...

My Sixty Second Public Service Announcement about Buying Real Estate

Here was an idea I had: Pack a list of the most important things consumers need to know about buying real estate, as packed into the words I can say in sixty seconds without sounding like an over-clocked squirrel. Here...

Selling In Buyer's Markets: Do You Need to Sell Or Are You Part of The Problem?

One of the things that sticks out about buyer's markets is that there are two sorts of listings: Those who are willing to do whatever it takes, anything it takes, to get the property sold, and the other who apparently...

How to Tell A Good Real Estate Market Article From A Bad One

Don Henley has a fun song off his second solo album called "Driving With Your Eyes Closed". I can't find a video performance, but here are the lyrics. It's got a chorus that ends with the line, "You're gonna hit...

Racial Gap In Home Loans

Racial Gap in Loans Is High in California. I can give a variety of reasons for this. First off, especially in Los Angeles but to a lesser extent throughout the state, there is a huge "Spanish speaking only" community. When...