PreQualified vs PreApproved

Did you know that there is a huge difference between PreQualifed and PreApproved, and that over 90% of sellers and the real estate agents that sell their homes demand a PreApproval!  As well did you know that most major banks and institutions never allow the better of the two, PreApproval Letter!  Even if they pull your credit [...]

Rates Drop

  The market rate Trump Bump is fading, and that’s good for housing…actually! With the average cost of money at $500 a month per $100,000 in mortgage balance, each 0.125% of a rate is only a messily $8.00/mo on that $100k (or $80.00/mo on 1 million). So, in essence, the actual rate has very little [...]

Appraisal Standards for Higher-Risk Mortgages Passed by FDIC

"U.S. mortgage lenders will get an additional year to implement new appraisal standards for higher- risk loans after regulators revised the Dodd-Frank Act measure to address concerns raised by financial firms". Creditors issuing loans at above-average interest rates that don’t meet the "qualified mortgage" standard will need to get written reports by certified appraisers who [...]

Midwest Farmland Values Gain as Record Crop Prices Boost Demand

"Farmland values in five Midwest states rose 13 percent in the third quarter from a year earlier as record corn and soybean prices spurred demand from farmers and investors, the Federal Reserve Bank of Chicago said. Higher commodity prices and crop insurance more than offset losses from the worst drought in 56 years, boosting farm income [...]

A Comparison Of Bank Owned Properties To Non Bank Owned Properties – Lakeview, Lincoln Park And Near North – August 2012

We last compared Bank Owned Properties to Non Bank Owned properties in December of 2011. The market has changed dramatically in the past 8 months and I thought that it would be interesting to make the same comparison for August 2012 I have attached 3 reports below that show comparisons of Bank Owned Properties to [...]

The Importance of Staging Your Home

1. The number one rule of home staging is to depersonalize. If you do nothing else, you absolutely need to pack away anything that makes the house 'yours' as opposed to theirs. Your family photos may be precious to you, but to a buyer, they're clutter. Clear off counters and shelves, pack away books and [...]

8 Reasons Why to Invest in Your Home

1. Funding is cheap The current economic climate sweetens the pot for people on solid financial footing. Should I spend $60,000 to renovate my house? "The Fed doesn't want you to save -- it wants you to put your dollars into circulation," said Keith Gumbinger, mortgage market analyst at HSH.com. Today's historically low interest rates [...]

Freddie Mac and Fannie pass the Buck on the Bill…$

Freddie Mac and Fannie pass the Buck on the Bill…$ Game Changer…once the government took over Fannie and Freddie tax payers now own the debt on $160 million defending mortgage finance companies.  The worst part is that $132 million went to defending two entities and their former executives over accounting improprieties that occurred years before [...]