Number of Americans in Forbearance Plans Continues to Fall
August 16, 2021
The Mortgage Bankers Association's (MBA) latest Forbearance and Call Volume Survey has found that the total number of loans now in forbearance decreased by seven basis points from 3.47% of servicers' portfolio volume in the prior week to 3.40%, as of August 1, 2021. According to MBA's estimate, there are approximately 1.7 million homeowners ...
Curb appeal is so important!
August 16, 2021
When marketing a home for sale, it is important to focus on creating a welcoming exterior. Many times buyers will drive past a home before deciding whether to view it. Be sure to have the exterior look well maintained to advertise your home to its fullest potential. Trim shrubs, keep grass cut, and always pick up ...
Maximizing Small Living Spaces
August 16, 2021
Maximizing Small Living SpacesTips for Maximizing Small Living Spaces- Jeanne Frank Clutter driving you nuts? Did you move in with someone only to find you have duplicates of everything from headboards to can openers? Here are 7 tips to help you make the most out of small spaces: 1. Weed out the extras. A yard sale will alleviate ...
Closing Cost Credit or Price Reduction?
August 15, 2021
In today’s market, real estate transactions under contract often present buyers with the opportunity to receive concessions from sellers. This may come about as result of the outcome of a home inspection, a material change in the property or an appraisal valued at less than the contract sales price. Depending on the situation, the seller may decide to ...
What caused the shortage of homes on the market?
August 15, 2021
Currently, we are experiencing an unprecdented shortage of homes on the market across the nation. Almost every major Real Estate market is seeing multiple bids on almost every fair priced home and several buyers competing for the same home. Many people have asked me what has caused this shortage.Here is what happened from my perpsective. ...
Evictions
August 15, 2021
Government Affairs NewsEviction Filing Ban Ended as of Sunday, Aug. 1stHousing providers can now file evictions against "Covered Persons," or those negatively impacted by COVID-19 as long as the landlord includes the required documentation. The governor has issued an Executive Order that only begins to remove the restrictions on the eviction process that have been in place ...
Buying a home? Did you know?
August 13, 2021
Did you know that HUD (U.S. Department of Housing and Urban Development) offers homebuyers a wealth of educational resources, easily found on the internet? Information includes step by step process of buying a home, information on home buying programs, education on loan types, and knowing your rights as a consumer. At the click of ...
Misconceptions About HUD Homes and Value
August 13, 2021
Misconceptions About HUD Homes and Value A common belief instilled historically about making lowball offers when properties are REOs or foreclosures has long been perpetuated on popular Real estate TV programs and advertised investor courses over the years. This has resulted in the common misperception that REOs or distressed properties in general can be bought for pennies on the ...
Case Study: Borrower Outreach and Workout Strategy
August 13, 2021
Case Study: Borrower Outreach and Workout StrategyClient: Local Community Bank The ChallengeDebt collection isn’t fun for anyone, whether you are the one in debt or the one trying to collect it. Our client couldn’t reach the delinquent borrower, let alone collect the money owed to them. The SolutionParkvue Realty put feet-on-the-street and literally went out ...
Summer Home Maintenance - To Do’s
August 13, 2021
Summer is a great time to work on those home maintenance projects! I’ve compiled a list of To Do’s for the exterior of your home! Power wash your driveway & sidewalks – After ensuring weeds are removed from any cracks, use a pressure washer to give your area a good cleaning to wash ...
HOW TO DEAL WITH LOW-BALL OFFERS
August 12, 2021
In this business, some buyers and/or agents automatically associate a foreclosed property with a low-ball offer. The buyers and their agents often explain the condition of your listing as if you have never been to the property, completed numerous inspections (sometimes several times a week because a neighbor has called about the light being left on), BPO's, ...
Navigating a multiple-offer situation.
August 12, 2021
Navigating a multiple-offer situation Being a buyer in today's current market has proven to be a difficult challenge. Although we are starting to see things loosen up we are still coming across multip-offer situations. So what should a buyer do in order to stand-out from the competition. Well, a couple of different tactics that can ...
Home Prices Are Soaring. Is That the Fed's Problem?
August 12, 2021
Robert S. Kaplan, the president of the Federal Reserve Bank of Dallas, has been nervously eyeing the housing market as he ponders the path ahead for monetary policy. Home prices are rising at a double-digit pace this year. The typical house in and around the city he calls home sold for $306,031 in June of this year, Zillow ...
8 Ways To Stay Safe Showing Homes
August 12, 2021
It is better to be safe than sorry when showing homes. Here are some ways to stay safe during your showing...1. Show properties during daylight hours. You never know what could be lurking in the dark and some vacant/bank owned homes do not have power on for lights. 2. Make sure your buyer is qualified to buy ...
Tips for Listing HUD Homes
August 11, 2021
TIPS FOR LISTING HUD HOMES When writing the property description, it’s tough to make another three-bedroom, two bath house stand out ...
Top 4 Questions Asked About HUD Homes
August 10, 2021
Everyday we get calls and emails regarding HUD Homes. Here are the top 4 questions we are asked. 1. What Is A HUD Home?The HUD Homes we sell are homes the previous owner had an FHA mortgage on, HUD backed that mortgage. So when the owner defaulted on the mortgage, it becomes a HUD Home.2. ...
How to Improve Your Credit
August 09, 2021
Credit scores play a big role in determining whether you’ll qualify for a loan and what your loan terms will be. So, keep your credit score high by doing the following:Check for errors in your credit report.Thanks to an act of Congress, you can download one free credit report each year at annualcreditreport.com. If you find ...
Summer lawn care tips
August 08, 2021
1. Fertilize Warm-Season GrassFertilizing in the early summer can give your warm-season grass, which grows best at about 70 degrees Fahrenheit, a boost to grow thick and healthy. Fertilizing at the right time can make your grass more heat- and drought-resistant.2. Mow HighMow the grass high to encourage strong root growth and heat tolerance. Taller grass provides more ...
What Does the Rest of Year Hold in Store for Buyers and Sellers?
August 04, 2021
If you have been at all interested in buying or selling a home this summer, chances are you know how prices have been skyrocketing due to lack of listings on the market. The big question for sellers right now is: how long will this price appreciation last?The top economists in the industry have weighed in, and they ...
Is your home in a flood zone?
July 31, 2021
With all of the weather changes and natural disasters happening across the globe, it may be a good time to check and see if your property is in a flood zone. Flood zones can change over time. Environmental and man made events can change your properties flood risk. To check and see if your property is in a flood ...
Importance of Great Lender
July 30, 2021
It's always so important to explain to buyers to get prequalified before they start the process. When purchasing a home there are some many hurdles to jump over. The process can be overwhleming to a first time buyer or even a client from years passed. Making sure everyone is all on the same page helps ...
Why Are Some Realtors Reluctant To Sell HUD HOMES?
July 27, 2021
Why are some Realtors reluctant to sell Hud Homes?It has come to my attention that some Realtors are afraid to sell HUD Homes, because they don’t understand how the process works, and cannot answer the clients questions, so they refer these buyers out to other Realtors. These properties should not strike fear in a Realtor. ...
How To Improve Your Credit Score To Help Secure a Home Loan
July 16, 2021
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Is there a stigma with HUD homes?
July 15, 2021
There are consumers out there that believe that HUD homes aren’t worth buying. So, is there a stigma when buying HUD Homes? The answer to that question is yes! But Why? First, we need to understand what exactly a HUD property is. A HUD property is a home that is an FHA mortgage default and has gone through ...
Case Study: Personal Property Assessment and Cleanout
July 15, 2021
Case Study: Personal Property Assessment and Cleanout Client: Family Estate The ChallengeThe rich history of this family and house started its story in 1955 when a young doctor and nurse got married and purchased a house on the Northside of Chicago. Over the next 65 years the home accumulated with 3 generations of mementos, filling the basement and cluttering ...
