Archive for November, 2010

Four Tips for Buying a Home During the Winter Months

by Maria Hass

1. Sales on homes usually slow down between November andFebruary. Many homebuyers postpone their house hunting efforts to prepare for the holidays. If you are making an offer on a house during this time, you’ll find less competition, thereby increasing your negotiating power. If the home you are making an offer on has been on the market for quite a while without competing offers, it won’t hurt you to bid lower.

2. If you are buying a bank-owned property, which is likely in Arizona, banks are motivated to successfully close their files before the end of the year. These banks may allow flexibility in their guidelines and expedite the process.

3. Applications for mortgage loans also slow down in the winter. Lenders will have more time to devote to your loan application, which eventually could lead to a quicker and smoother closing.

4. The supply of homes continues to rise in the winter due to ongoing foreclosures and short sales. However, the demand slows down. With low demand and a high inventory of homes, the prices go down. This makes it more affordable to buy a home and home buyers that brave the winter can get a great deal on a home.

Winter is a great time to buy a home. The prices of homes drop due to low demand and buyers can negotiate on the price more aggressively with less competition. This all sums up to a great opportunity for the prospective home buyer!

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November 25, 2010 at 6:32 pm Leave a comment

Short Sale Stories

by: Maria Hass

Every short sale is custom. I had a short sale listing where the first negotiator gave a clean approval on the transaction and the buyer backed out. Second negotiator on the second buyer would not pay some title fees. According to the new negotiator, the investor would not allow it. Is she talking about the same investor of the first buyer? Oh well….
Also, Wells Fargo and Bank of America is defying logic by having to start the whole process again with the second buyer instead of just switching the names of the buyers once an approval was already made.

PNC financials who took over National City Mortgage asked $19,000 on a $32,000 loan to release the lien and deficiency. This is an excessive amount. The home is protected under the Arizona Anti-Deficiency Law. PNC will not get anything if the home goes into foreclosure. Wonder why these greedy banks won’t take less.

November 18, 2010 at 12:30 am Leave a comment


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