As we head into the fourth quarter of 2021, the peak home buying season is wrapping up, and most of the bidding wars have subsided. No, that doesn’t mean you can take the next three months off, unless you don’t need a paycheck.

But it might signal the green light for your clients who were waiting to buy until demand decreased, prices became a little more reasonable, or their credit score improved. Bidding wars and the frustration and roller coaster of emotions that come with them aren’t for every house hunter. Continue reading

Paying rent on time is a good way to make sure you don’t get evicted. Now, thanks to a new Fannie Mae policy change, that positive payment history could significantly boost your prospective clients’ chances of being approved for a home mortgage loan. 

As of Sept. 18, Fannie Mae is adding a new feature in its automated underwriting system that considers mortgage loan applicants’ rent payment history – with their permission – during the credit review process. That means that paying rent on time will officially count for something as your buyers look to transition from renter to homeowner. Continue reading

High home values. Low interest rates. Competitive bidding. 

Some interesting trends are happening in the real estate industry right now. As an agent out there helping your clients buy and sell homes, it’s your job to stay connected to what’s going on. Doing so allows you to help many families find the homes of their dreams. And gives you a few nice paychecks in the process.   Continue reading

When someone is ready to buy a house, they often hop in their car and start browsing the local home listings for their new home. It can be an exciting venture, especially when they’ve found a few in their price range.

But what is their “price range,” really? Do they know what that corner dream house with the covered patio and finished basement will cost them each month? Continue reading

A person’s credit score is essential when it comes to being approved for any kind of loan – personal loan, auto loan, home loan, or even a credit card. The higher the number, the more creditworthy your clients are.

As a real estate agent, you already understand that credit plays a significant role in the mortgage loan process and can ultimately go a long way in determining if your client is approved for a mortgage loan.   Continue reading

Close to the grocery store. Walking distance from the park. Near grandma and grandpa. Short commute to work. 

There are many considerations your clients sift through when deciding where to look for their next home. All of the ones above are pretty common and important. But there is one factor that can sometimes be a deal-breaker for parents – the school district.  Continue reading

Interior painting. Bathroom remodels. New Flooring.  

According to the 2020 State of Home Spending report, these were the top three most common home improvement projects participants had completed. It’s not surprising that painting was at the top of the list, as it is one of the most cost-effective and impactful home improvement or renovation projects.  Continue reading

As if a housing shortage and historically low interest rates weren’t enough to spark some of your clients to consider refinancing instead of buying, the Federal Housing Finance Agency (FHFA) just put another log on the fire.

This week, Fannie Mae and Freddie Mac have agreed to eliminate the “Adverse Market Refinance Fee” for all refinanced mortgages, effective Aug. 1. The refinancing fee was implemented in December 2020 to help pay for some of the federal pandemic-related mortgage relief.   Continue reading

As you’ve probably noticed, it’s been quite the home buying season so far in 2021!

If your experience has been anything like many real estate agents around the country, you’ve been busy trying to keep your buyers thinking positively during such competitive times while looking for more homeowners willing to sell in order to beef up the home supply in your area.

In this hectic seller’s market of 2021, maybe you’ve seen some crazy things like homes selling for tens of thousands above their asking price. Or homes are drawing dozens of serious bidders within an hour of being listed. We’ve even heard of buyers throwing in crypto-currency or literally offering bags of cash to beat out competitors. Continue reading