60http://laveryteamblog.comSun, 27 May 2012 21:39:32 GMTSun, 27 May 2012 21:39:32 GMTenLaveryTeam.comdouglas@webservices-usa.comnohttp://laveryteamblog.com/2011/07/07/who-represents-you.aspx?ref=rssDouglasIn almost every state in the U.S., buyers have the option of being represented by their real estate agent. This relationship creates responsibilities that require the agent put their client's interests above their own. The duties a buyer or seller can expect to receive among others are honesty, accountability, full disclosure, representation and reasonable skill and care. In a nutshell, the agent who represents you is working in your best interest.It's a special relationship that doesn't exist with most of the other professionals involved in a real estate transaction. Mortgage and title officers are limited to their duties of honesty, ...FYIhttp://laveryteamblog.com/2011/07/07/who-represents-you.aspx#Comments10c14165-8b4b-4511-91f5-4b5b3ca65cabThu, 07 Jul 2011 18:44:59 GMThttp://laveryteamblog.com/2011/06/25/fha-top-10-loan-advantages.aspx?ref=rssDouglasFannie Mae and Freddie Mac underwritten conventional, FHA and VA loans account for the vast majority of mortgages chosen by buyers to finance their home purchase. While buyers have the choice on which product to use, there are some considerable advantages to FHA. More tolerant for credit challenges than conventional loans.Lower down payments than conventional loans.Broader qualifying ratios - total house payment with MIP can be up to 31% of borrower's monthly gross income and total house payment with all recurring debt can be up to 43%.Seller can contribute up to 6% of purchase price ...FYIhttp://laveryteamblog.com/2011/06/25/fha-top-10-loan-advantages.aspx#Comments87cfe2d8-e43b-4c7b-84de-ebded4142ba2Sat, 25 Jun 2011 19:20:24 GMThttp://laveryteamblog.com/2011/06/19/cash-now---mortgage-later.aspx?ref=rssDouglasYou might think that a person who pays cash doesn't have many concerns or at least not the same ones as most people. Roughly, about 9% of people paid cash for their home last year with a considerably higher percentage paying cash this year. The first question that comes to mind when I hear ...FYIhttp://laveryteamblog.com/2011/06/19/cash-now---mortgage-later.aspx#Commentsc57b82f7-24a0-4a93-836c-191220f7d533Mon, 20 Jun 2011 00:15:00 GMThttp://laveryteamblog.com/2011/05/24/buy-now-or-wait.aspx?ref=rssDouglasUncertainty as to whether prices will continue to fall has to be one of the most common causes of buyer procrastination. Paying too much wouldn't be a smart thing but price isn't the only factor to consider. Interest rates have as much effect on housing costs as price. A small increase in mortgage interest rates can offset a significant drop in home prices. If the price of the home were to come down by 5% but the interest rates were to go up by .5%, the payments might be close to ...http://laveryteamblog.com/2011/05/24/buy-now-or-wait.aspx#Comments11fcba85-2bfe-493f-a740-e1ce693394d5Wed, 25 May 2011 01:11:13 GMThttp://laveryteamblog.com/2011/05/19/cash-in-refinance.aspx?ref=rssDouglasHere's an interesting thought. Instead of pulling money out of your equity when refinancing your home, consider putting some cash into your equity. The strategy would be to get a considerably lower rate and a shorter term than 30 years. It will pay off your mortgage sooner, build equity faster and save lots of money in interest. If you have some extra cash available, this might be very atteractive compared to what your are earning currently on those savings. In the example below, the current mortgage is at 5% for 30 years with payments ...FYIhttp://laveryteamblog.com/2011/05/19/cash-in-refinance.aspx#Comments456e9716-507b-4052-ab97-f4ff5634cc58Thu, 19 May 2011 12:33:00 GMThttp://laveryteamblog.com/2011/05/03/more-affordable-than-ever.aspx?ref=rssDouglasThe Housing Affordability Index reached a record high of 192.3 forFebruary, 2011. Two contributing factors to the Index are the priceadjustments homes have experienced in recent years combined with theunusually low mortgage rates make this an outstanding opportunity forbuyers who can qualify. Before the housing bubble burst in 2006, the index average for theyear was 108. The high prices and higher interest rates restricted manybuyers ...Market TrendsFYIhttp://laveryteamblog.com/2011/05/03/more-affordable-than-ever.aspx#Commentsc98ab225-d323-4ef7-99d6-76ed1e2b1dc3Tue, 03 May 2011 12:11:00 GMThttp://laveryteamblog.com/2011/04/19/rent-or-buyyou-pay-for-the-house-you-occupy.aspx?ref=rssDouglasWhether you rent or buy, you pay for the house you occupy. You must live somewhere and there's a price to pay for it. A simple analysis will show you whether it's cheaper to rent or buy. Some people don't have any choice but to rent because they don't have the means to qualify for a loan. But for those who do have a down payment and good credit, they actually have a choice of whether to rent or buy. In some cases, owning will cost significantly less than renting. Rentals are in high demand in many markets and rents ...FYIhttp://laveryteamblog.com/2011/04/19/rent-or-buyyou-pay-for-the-house-you-occupy.aspx#Commentsac420ec9-535b-4489-b053-a846e8d6dac9Tue, 19 Apr 2011 20:38:00 GMThttp://laveryteamblog.com/2011/04/06/everything-except-the-down-payment.aspx?ref=rssDouglasIt's one thing to have the down payment and not qualify because of credit scores but in today's tough financial environment, it may be even more frustrating to have good credit, income and job stability without the down payment. The 2010 NAR National Housing Pulse Survey states that 79% of respondents identified the down payment and closing costs as obstacles to homeownership. 73% express a lack of confidence in getting approved based on a concern that banks have made it too hard to qualify for a home loan. Most buyers depend on the savings or ...FYIhttp://laveryteamblog.com/2011/04/06/everything-except-the-down-payment.aspx#Commentsa36d617b-befa-46a6-89a8-50b77c1cdd79Wed, 06 Apr 2011 23:01:00 GMThttp://laveryteamblog.com/2011/03/16/supersize-a-va-loan.aspx?ref=rssDouglasSince 2004, the maximum VA loan is the same as the maximum FNMA mortgage which is currently $417,000. Occasionally, a Veteran wants a loan in excess of that amount. If the Veteran will put a 25% down payment on the excess amount, a lender will loan the other 75%.ExampleSales Price ...FYIhttp://laveryteamblog.com/2011/03/16/supersize-a-va-loan.aspx#Comments6fc28dea-5332-43a0-b8b2-63e43cb70841Wed, 16 Mar 2011 15:55:00 GMThttp://laveryteamblog.com/2011/03/09/waiting-may-cost-you-more.aspx?ref=rssDouglasIf you haven't heard by now, FHA is increasing the annual Mortgage Insurance Premium again by .25% on April 18, 2011. Payments will be higher even if the interest rates remain the same. Buyers who are ready to take action can still lock in the lower MIP. If they have a contract signed by all parties and get a FHA case number issued prior to 4/18/11, the lower MIP rate will apply. For a $175,000 home at 5% interest, the new MIP will mean the ...FYIhttp://laveryteamblog.com/2011/03/09/waiting-may-cost-you-more.aspx#Comments7a34ed41-e563-4586-815b-2d224cbb109bWed, 09 Mar 2011 16:58:00 GMT