Entries from Searchlight Crusade tagged with 'markets'

What Are Your Options If You Can't Make Your Mortgage Loan Payment?

I found you on the Web after doing some research for my parents regarding short sales and foreclosures. I appreciate your straight talk regarding the whole loan and real estate process which I know they find incredibly intimidating. Right...

You Must Be Willing To Act In Order to Get Any Benefit

On a very regular basis, pretty much every buyer's agent who's worth anything gets clients who have difficulty making a decision. Not too long ago, I found a solid property with great potential that nonetheless needed about $20,000 of cosmetic...

Why It May Be Costly to Reject Paying Points

I hear it and read it all the time - advice that says to pre-emptively reject the possibility of paying points. People that talk to me about loan rates that tell me they will not consider any loan that...

Just Because Compensation for a Loan Isn't Disclosed Doesn't Mean It's Free

I am continually confirming that a large percentage of people can't handle negotiations like an adult. They focus in on garbage and ignore what's really important. I recently was going to deliver a loan that cost less, as well as...

Confusing Past Performance and the Present Situation with Future Planning

The most common mistake in real estate (and every other aspect of financial planning, for that matter) is to assume the situation now is going to continue indefinitely. In the stock market, people chase last year's returns. They "wait for...

Considering Condos, Townhomes, and PUDs

The vast majority of the population out there wants single family detached housing. The virtues and benefits of the single family residence have been extolled ad nauseum, and the drawbacks of the alternatives are the stuff of urban legend. Unfortunately,...

Real Estate is More Local Than Most People Think

When I'm doing my initial automated search for properties for my buyer clients, I always pay close attention to listings represented by agents out of the immediate area. Why? Because an agent from fifteen or twenty miles away probably has...

Investment Property and Loan Qualification

One of the things that has constricted the most with the current paranoid lending environment is the ability to use rental income to qualify for a mortgage. It seems that lenders are seizing upon any excuse to deny income...

Reasons Why You Want A Buyer's Agent

There's an awful lot of nonsense out there that advises people to do without an agent. Quite often, first time buyers of real estate get seduced into not having an agent by this stuff before they get into the market,...

The Division of Labor Between Buyers and Their Agents

During the initial interview with prospects, I like to cover the division of the labor that goes into a purchase that makes the buyers happy. I have to know what's important to the buyers, how important it is, and what...

Real Estate Transactions: If You're Spending Money, Make Sure You Get Something Valuable For It

Most days I get loan wholesalers coming into my office. I'm always happy to talk with them, providing they want to talk about what I want to talk about. They usually want to talk about this gimmick and that gimmick...

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...