Linda's Corner

Some Highlights

• Considering selling your house without an agent? You should know there are some serious downsides to handling it on your own.
• You’ll be missing out on marketing tools that draw in more buyers, pricing and market expertise, essential negotiation skills, in-depth knowledge of the fine print in contracts, and so much more.
• Don’t take all of this responsibility on. Instead, connect with an agent so you have someone with the knowledge and experience you’ll need on your side. Call Linda now @954-464-5434

Article posted by: Keeping Current Matters

June 14 (Reuters) - U.S. home sales in May fell to among the lowest levels in the past decade said in a report, as both demand and supply remained sluggish in a high-mortgage rate environment.

Some Highlights

• Wondering what the second half of the year holds for the housing market? Here’s what expert forecasts say.
• Home prices are expected to climb moderately. Mortgage rates are forecast to come down slightly. And, home sales are projected to hold steady.
• If you have questions about what to expect for the rest of the year, connect with a local agent to have a conversation about what it means for you and your plans.
• Call Linda @954-464-5434 now~=!

Article posted by: Keeping Current Matters

These are the top 5 mistakes clients make!

1. Working with a Big Box Bank

If your client is looking for a low-down payment loan or down payment assistance, these guys don't have much flexibility. If your client is self-employed, big banks will only look at your clients' documents after they find a house. So, if there's a problem, your client won't find out till after they're under the gun to close on their home. Your client needs to find a broker that has access to multiple banks and loan programs.

2 . Never Co-Sign before Pre-Approval

This debt will count against your client. This can be fixed, but your client will need to show that the person your client co-signed for made the full payments for 12 consecutive months. Then it won't count against your client or their debt-to-income ratio.

3. Don't Get Pre-Approved for The Purchase Price

Have your client start with a payment they're comfortable with which will include the mortgage, taxes and insurance policy. Then go back into a purchase price from there.

4. Be Careful Using Credit Related Sites

Don't let your client use any website like credit karma or any other related site that gives them a credit score estimate. They are never 100% accurate! Your client can check out all of their balances at AnnualCreditReport.com or have their lender to do a soft credit pull that will give them accurate information without dropping their score.

5. Look Into The Loan Officer and Realtor 

Before your client commits to a loan office or realtor, make sure they see how much business they have done within the last year. Your client will want to work with someone who is well versed in today's market!

There’s no denying it’s gotten more challenging to buy a home, especially with today’s mortgage rates and home price appreciation. And that may be one of the big reasons you’re eager to look into grants and assistance programs to see if there’s anything you qualify for that can help. But unfortunately, many homebuyers feel like they don’t know where to start. 

Buyers face challenges in any market – and today’s is no different. With higher mortgage rates and rising prices, plus the limited supply of homes for sale, there’s a lot to consider.

You may have heard mortgage rates are going to stay a bit higher for longer than originally expected. And if you’re wondering why, the answer lies in the latest economic data. Here’s a quick overview of what’s happening with mortgage rates and what experts say is ahead.

Some Highlights

• When it comes to the current housing market, there are some myths circling around right now.
• Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments. 
• Lean on a real estate professional to help separate fact from fiction in today’s housing market. Call Linda @954-464-5434 to know more!

If you’ve got a move on your mind, you may be wondering whether you should wait to sell until mortgage rates come down before you spring into action. Here’s some information that could help answer that question for you.