What is the key difference between a Pre-Qualification and Mortgage Underwriting? Problem: A Pre-approval letter is typically a quick and shallow look at your financial ability to perform BECAUSE it does not represent the outcome of a full Underwriting process. Reality: A Pre-Qualification or Pre-Approval Letter Does Not Indicate That A Full Mortgage Commitment Has […]
How Do you identify which Improvements To Make prior to marketing your home? You may wonder… a. Why IS Completing Projects To Your Benefit? Or…. b. What If you Don’t Pick The Right Upgrades? and c. Can You Really Increase Value With Simple Projects? d. Here’s the Best first step: Deal With Home Inspection Issues […]
What do I mean by, “satisfying the seller”? a. The Problem: Buyers finding a home and wanting to place an offer WITHOUT having a proof of funds or mortgage pre-approval b. The Reality: When you are asking a seller to accept your offer, you’re really asking them commit to working with you and for them […]
According to Realtor.com, national home prices took the biggest Plunge in 6 years and turbulence in the national real estate market continues… but how are things tracking locally? After average sales prices steadily climbing to a record high of $350,000 in June, home prices have been decreasing since. From July to August, prices locally dropped ~3% to an […]
Is the market cooling? How are interest rates impacting the market, and what about the Fed actions to combat inflation? According to data from the Global MLS, the marketplace for NY Capital District residential properties, here are the latest stats: The Number of SOLD listings increased by 11% to 778 properties with a top sale of $1.7 […]
In this video I interview Andrea Kullman, a local mortgage broker from Homestead Funding, on the implication of the Fed raising rates another 75 basis points on 7/28/22. What does this mean for mortgage rates? If you’re thinking about buying or selling, does this change anything for you? We have plans that will help your […]
In this video I address the importance financial pre-qualification by securing a proof of funds or mortgage pre—approval. The Problem: Buyers waiting until they find a property that fits their needs prior to securing financial approval. The Reality: Sellers will not seriously entertain an offer that does not include a letter from a reputable banking […]
What are the market trends suggesting about the trajectory of our local real estate market? With all of the news about a recession, inflation, and increasing interest rates you may be thinking that the market is cooling off… so these number might surprise you! According to Global MLS, the marketplace for NY Capital District residential […]
The selling season is in FULL SWING! According to Global MLS, the marketplace for NY Capital District residential properties, here’s how June closed compared to May close: • The Number of SOLD listings increased by 17% to 704 properties with a top sale of 1.525 million at 367 Vly Rd in Niskayuna. • Average Sales […]
Many people that I’m speaking with are under the impression that the market is cooling off. With constant news about inflation, interest rates, the stock market, Ukraine, baby formula shortages, an impending recession, etc. it’s easy to think people would be putting their move on hold. However, the data suggests the opposite is true! According […]
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