Entries from Searchlight Crusade tagged with 'competition'

What to Do When Your Loan is Declined

Loans are declined, or actually, the next thing to it, all the time. It is pretty rare for a loan to be outright rejected; I do not recall ever having had a loan outright rejected. That's a sign of a...

Did That Slap On The Back Leave a Knife?

One of the things the place I work does to attract clients is advertise foreclosure lists to our clients. Several times a week, people call and ask for the lists, and we say, "Great! Just come on down, fill out...

Is Remodeling Likely To Show A Profit?

My general rule of thumb is "Remodel for your own enjoyment. If you're lucky, you'll get some of your money back when you sell." The remodeling industry has made a very large amount of money seducing people into believing...

Top Ten Reasons You Bought The Wrong House

A while ago, I wrote Top Ten Reasons Your Home Isn't Selling. It was well received so I thought I'd take it from the buyer's perspective. Once again, I'll try to inject as much humor as I can. And...

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...

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."...

The History of Suburban Housing

For at least the last thirty years, I've been hearing "affordable housing" advocates yammer about the high cost of housing, and how working families can no longer afford "decent" housing, which they apparently consider to be the three or...

You Never Have To Sell to a Any Particular Offer

Must you sell if you list at a specific price and the broker comes up with a qualified buyer? in the US in general, no you do not have to sell, but you could still be liable to the...

Why Cost Is As Important As Rate For Mortgage Loans

When I wrote explaining why borrowers should consider a 5/1 ARM, because the tradeoff between rate and cost is lower for that loan, and most people don't keep their loans 5 years anyway, so having a likely need to...

Mortgage Lenders Don't Want to Compete on Actual Price

Yet that is exactly what you want them to do. To avoid competing on price, they have all kinds of distractions they offer to make life more convenient, but not cheaper. They offer automatic payment options, the convenience of having...

Top Ten Reasons Your House Isn't Selling

No, I'm not a David Letterman watcher, for reasons having to do with turning into a pumpkin before his show starts. I'm going to treat it a little more seriously than he does, as this is a serious subject,...

Loan Rate Sheets: The Games Lenders Play With Rate and Cost Adjustments

This is part and parcel of the system that's abused. Here are sample rates from one A paper lender, picked at random, that were in effect when I originally wrote this. Rates are lower now, but it's a good example...

Shop Loans By The Bottom Line To You, Not By What the Provider Makes

When it comes to mortgage loans, people get distracted by the darnedest things. Let's look at Wal-Mart. You think they got to be the largest retailer in the world by making less money than their competition? I assure you...

A Good Listing Agent's Most Difficult Task

The general public may not understand this, but the most critical parts of a listing agent's job all take place before the property hits the market. The most difficult task of an agent who wants to successfully list property is...

Why You Want To Price Your Property Correctly From Day One

This article is for sellers who want to put their property on the market priced too high "just to see if we can get it." I know where sellers get this notion. A lot of people are out there...

What Happens When You Over-Price Real Estate?

Short answer: It almost certainly won't sell! The first thing that happens is that when it goes onto the Multiple Listing Service, all the agents who see it know that it's overpriced. Even on the public part of MLS, the...

Pre-Qualification

One of the most useless and overworked items in the real estate industry today is the pre-qualification for a loan. Sellers want buyers to be "pre-qualified", and buyers are seeking "pre-qualification" to convince buyers they are serious. The level of...

Writing Real Estate Purchase Offers to Beat Higher Competing Offers

This article was inspired by closing one of many transactions where my clients did not make the high bid (or even close), but did get the fully negotiated purchase contract and the property. By building an airtight case that...

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...