If the unfreezing of credit is paramount to an economic rebound, the first signs of a thaw may be here. Monday, the Federal Reserve released its quarterly survey of 84 member banks. In it, the Fed says that fewer than half of its responding banks tightened "prime" mortgage guidelines over the last 3 months. This is good news for active home buyers and other Americans in want of a new mortgage. "Prime" is a vague term with respect to home loans, but it usually refers to mortgage applicants who can … [Read more...]
Can I Keep The Buyer’s Deposit If They Cancel The Deal?
November 7, 2008 by Leave a Comment
This question always seems to come up from a seller when the buyer decides to back out of a real estate transaction or purchase. The answer to the question, as with a lot of real estate related questions, is "it all depends." Take a look below for my answer. [viddler id=ae8a8b4&w=437&h=368] Like the video above? Check out some of my other video posts. Related Articles Let's Be Earnest When Talking About A Good Faith Deposit … [Read more...]
What’s More Important, Asking Price or Sales Incentives?
November 1, 2008 by Leave a Comment
Every seller is looking for a way to get their home sold in this market. With only 1 out of every 15-20 Big Bear homes selling every month, it is understandable to want to try every possible strategy. One question that comes up a lot is whether to offer sales incentives to help entice more showings and a buyer. The most common types of these incentives include a buyer's agent bonus, raised selling commission, and the seller paying some closing costs for the buyer. While offering sales incentives can help a … [Read more...]
Big Bear Lakefront Properties – A Different Kind Of Animal
October 28, 2008 by 2 Comments
Lakefront properties in Big Bear are the most sought after type of property in our area. Understandably, there is something inherently desirable, albeit romantic, about have a home on the water, not too mention a vacation cabin or second home. The tough part is that there are less that 600 homes on the lake in Big Bear, and less than 5-10% of those that are typically on the market for sale. As you can imagine, this creates quit a bit of demand and thus puts lakefront properties on the top end of the pricing scale … [Read more...]
Who Pays The Buyer’s Agent In A Real Estate Transaction?
October 27, 2008 by Leave a Comment
The real estate business is very complex. There are a lot of documents to go over, countless time frames & legalities to maneuver around, and various issues & unique personalities to deal with in every real estate transaction. While I work in this business every day, it is no wonder that buyers & sellers have a lot of questions about how our business works. One of the questions that comes up often is the title of this post, "Who pays the buyer's agent commission?" Check out the video below for my … [Read more...]
Short Sales, Foreclosures, & Bank Owned / REO Properties – What’s The Difference?
October 23, 2008 by Leave a Comment
I received a question last week on Trulia.com asking about the difference between a bank owned property and a foreclosure. These terms can be confusing to those who are not in the business, and even for some of us in the business. Here's a short video explanation of the differences between bank owned properties, foreclosures, and short sales and how they are all related in the end. Feel free to add comments or ask me any questions. [viddler id=6a9e0eb6&w=437&h=368] … [Read more...]
