DEBBIE BURNESS REAL ESTATE GROUP
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Overwhelming advantages aside, there is still resistance to pre-approval
Pre-approval is a comprehensive process where the lender verifies the buyer’s financial information, including credit history, income, and assets. Pre-approval provides a conditional commitment from the mortgage company to lend a specific amount, pending appraisal of the property. Pre-qualification is an initial assessment based… Continue Reading “Overwhelming advantages aside, there is still resistance to pre-approval”
Addressing the Buyer Agent’s Fee
Traditionally in the U.S. housing market, the seller has offered the buyer’s broker and agent a share in the commission specified in the listing agreement between the seller and the listing broker and agent. In a settlement between the National Association of REALTORS�, beginning… Continue Reading “Addressing the Buyer Agent’s Fee”
U.S. Homeowners Property Tax Increase
Last year, U.S. homeowners faced an average property tax bill exceeding $4,000, marking the highest increase in five years, according to data from Attom Data Solutions, a real estate data firm. Property taxes nationwide amounted to over $363 billion in 2023, reflecting a 6.9%… Continue Reading “U.S. Homeowners Property Tax Increase”
Use Ben’s Balance Sheet to Decide
There is a technique that has been attributed to Benjamin Franklin and used when faced with a decision. As the lore goes, whenever Ben was faced with a decision, like you are now, he’d take a piece of paper, draw a line down the… Continue Reading “Use Ben’s Balance Sheet to Decide”
Is a written buyer’s agreement necessary?
Beginning August 17, 2024, many agents will be required to enter into a written agreement with a buyer before touring a home either in-person or through a live virtual tour and buyers should be familiar with what it entails. There have been buyer agreements… Continue Reading “Is a written buyer’s agreement necessary?”
Tips to reduce your homeowner’s insurance cost
Home insurance rates have increased by almost 20% nationally between 2021 and 2023 and even more in some states like Arizona where rates have jumped 62% in some cases. The appreciation that homeowners have enjoyed, especially in the past four years, has caused premiums… Continue Reading “Tips to reduce your homeowner’s insurance cost”
Finding Affordability in Lessons of the Past
In the 1980s, home buyers faced significantly higher mortgage rates compared to today’s market. Despite this challenge, many people successfully purchased homes and made them worthwhile investments. They employed a range of strategies to manage costs and ensure affordability. Here are the key tactics… Continue Reading “Finding Affordability in Lessons of the Past”
Convenient but not accurate can cost you money
Online estimates like Zillow, realtor.com, Redfin, & Homes.com are convenient, but typically lack accuracy and may have a significant margin of error. They are constructed using a computer-generated algorithm that utilizes historical public sales data and trends called an Automated Value Model, AVM. National… Continue Reading “Convenient but not accurate can cost you money”
Benefits of Checking your Credit Regularly
You are encouraged by the Federal Trade Commission to be sure the information on your credit reports is accurate, complete, and up to date at least once a year. It is an important part of your financial life that can determine whether you get… Continue Reading “Benefits of Checking your Credit Regularly”
An annual home equity update benefits homeowners
Homeowners should verify their home’s equity at least once a year because the two factors that affect it change regularly. Market value changes and the unpaid balance of the home decreases with each monthly payment made on an amortizing loan. Amortization and appreciation cause… Continue Reading “An annual home equity update benefits homeowners”
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