Fall Financing

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Newsletter Excerpt

I was ‘singing’ about Summertime and the living is easy in my last newsletter and already we have turned the corner toward fall. Folks are debating whether it will be a colorless fall due to the lack of rain. There isn’t enough scientist in me to debate that subject. So, it has been a busy summer with real estate. Open houses have had good to great participation. While it remains a buyers market with low interest rates (lowest in last 39 years) and buyers are very particular, sellers are experiencing more stable selling prices and more qualified buyers making offers and buying homes.

The biggest challenge today seems to be financing. Lending institutions have definitely corrected their ways from the more casual and all acceptance of lending to anyone who asked for money in the earlier part of the decade to today’s extremes. One client’s employer was called three times on the day of closing just to verify employment, in spite of a good credit report and history, long employment with current job, 20% down payment, etc… So as a buyer, prepare yourself. Understand how the system works and do everything to get yourself in great credit shape.

If I were to set a minimum standard for homeowners, I suggest you pay attention to your yard. Pick up trash, trim shrubs, plant a few flowers—remove overgrown bushes, prune trees…think about the message you are sending to your neighbors and buyers. Keep the whole neighborhood looking good by taking care of your property.

A homeowner begins to sell their home from the minute a person sees it from the outside. But it can also be said that you convince a potential buyer not to consider our property because of the lack of care. Another suggestion for sellers is to get a pre-listing inspection. As a seller, learning about what might keep your home from closing or obstacles to completing the sale, may be the best money you ever spend. Inspectors range from $350—$500 for a basic inspection. Radon and termite are fairly common additions to the home inspection. The inspection allows the seller to be in charge of repairs and prevents “surprises” when your buyer has an inspection. A pre-listing inspection is…like an ounce of prevention.


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