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Avoid The Traps Of Finance


Most consumers are told where to get their mortgage because few people personally know and trust a mortgage or loan officer or correspondent (the same thing). It used to be agents would take their buyers out to find the house they wanted, then to their favorite mortgage company. Now things are so fast and better organized. It is common practice to have the purchasers prequalified and preapproved before searching for their new home. Most agents don't know much about finance, they leave it to the mortage company to explain it.

Probably the most important thing is comparing. I don't understand this, unless it is young people who just don't know. Most people compare prices of other thing; cars, gas, food. It's not only important to check interest rates but also APR or annual percentage rate. This takes all of the mortgage company charges and breaks it down into a rate that many times is published by several in the newspaper. You can see 5.49% v 6.11%. It sounds like a little but it means a lot!

Different types of financing are available. This is something your agent should be well aware of as well as the mortgage company. I remember a time I was working with a young couple. I knew the best loan for them was a combination of FHA and a state subsidized loan. This gave them the lowest down payment and interest rate. The people at this very well known world wide mortgage company said "you can't do that" to which I REPLIED, here is the number. I was surprised. The couple did get the house with exactly that financing. Please rate and tell friends.

More to come later: http://www.freewebs.com/realestatenews.

Suzie is a licensed real estate broker and certified residential appraiser with twenty years of experience with hopes of changing the industry for the better one step and one person at a time. She has other professionals in the field who are contributing their expertise as well. http://www.freewebs.com/realestatenews


MORE RESOURCES:

The Virginian-Pilot

Changing times in real estate
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In real estate stories, a market for distrustSarasota Herald-Tribune
Herbert Edwards Sr., real estate agentPhiladelphia Inquirer
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State Real Estate Drop The Worst On Record
Patch.com
By Chris Dehnel Home sales in Connecticut dropped 13 percent in 2011, making it the worst on record, according to The Warren Group, the preeminent compiler of real estate statistics in New England. Boston-based Warren began tracking real estate data in ...

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Developer says real estate market is on the mend
Las Vegas Review - Journal
Buy this photo Quotable: "Real estate is more like a marathon, not a sprint. You need to build on your strengths, intellectual assets and human resources." Work history: Salesman and broker for Rossum Realty Unlimited, 1989-2005; managing member of ...

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Kensington mayor's real estate purchases
Washington Post
... or relevant are displayed in Top Comments, as are comments by users with these badges: . Replies to those posts appear here, as well as posts by staff writers. All comments are posted in the All Comments tab. Kensington mayor's real estate purchases.

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Bringing real estate into a mobile world
The Register-Guard
By Sherri Buri McDonald RealLead is a new Eugene company designing technology that enables real estate agents to get more mileage out of their mobile marketing of real estate listings. The company's owners are Caroline Cummings (left), ...

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Real Estate briefs: Builder breaks ground on Bonita Lakes
The News-Press
Originally from Boston, Christensen worked as a graphic designer and earned her real estate sales designation in 2003. Christensen is also a member of the Bonita Springs-Estero Association of Realtors. Kathy Farias to its Central office.
Southwest Florida real estate briefsNaples Daily News

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'New normal' for real estate arrives
Daily News Transcript
By Jay Hummer/local columnist Homeowners in MetroWest, and throughout Massachusetts are beginning to adjust to the “new normal” — an industry buzz word used among real estate professionals to define the current state of the housing market.

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Tri-county real estate has mixed year
Lansing State Journal
BY THE NUMBERS The Lansing-area real estate market finished the year on a stronger note, but home sales were stagnant for the year as a whole. Nonetheless, real estate professionals are expecting a better year in 2012. “We're optimistic,” said Bob ...



Investing: Real estate investment trusts risky, but show great returns
The News-Press
Peculiarly, the commercial real estate market isn't quite as depressed. In fact, funds that invest in real estate investment trusts, or REITs, rose an average 7.5 percent last year, beating the Standard & Poor's 500-stock index's 2.1 percent gain.

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Local real estate agents had good 2011, feel optimistic about 2012
The Mountain Press
That's a statement echoed by Colonial Real Estate principal broker Vickie Stanton. “The sellers are feeling more optimistic,” she said. “(The realtors) are cautiously optimistic.” With most buyers still looking for foreclosed homes and good deals, ...

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