January 2017 Real Estate Roundup
January 2017 Real Estate Roundup
Getting A Mortgage For Your Luxury Home
Whether you don’t want to tie up cash in a home since you can get a better rate of return elsewhere or have your funds tied up in your business and you don’t want to let that hinder you from buying a luxury home Paul Sian a top real estate agent in Indian Hill, Ohio talks about getting a mortgage for your luxury home in his article. Mortgages for luxury homes are a bit different than a mortgage for a traditional home.
Due to larger amounts involved with a luxury mortgage and the fact that government backed mortgage purchasers will not guarantee those loans banks must loan money out of their own accounts. As a result mortgage lenders for luxury mortgages are a little more cautious and the process can take a little more time than normal. Check out the article about getting a mortgage for your luxury home purchase and learn what exactly is involved.
10 Smart Reads For The Successful Real Estate Agent
Whether you are a new agent or one who has been in business for a number of years in real estate you can never be standing still otherwise you will not be able to serve the needs of your clients. In this article about 10 Great Books For Real Estate Agents by DJ Morris of SpringbokRealty.com you will find ten great books to add to your library which will help improve your skills in real estate, life and more. While some of the books noted are for newer agents, seasoned agents may find benefits for their own skills with some of the newer methodologies and strategies shared. Be sure to check out the great list and add some of the books to your reading list.
Why The Go It Alone Approach In Real Estate May Be Bad For You
In this article about the risks of not having a real estate agent Bill Gassett goes over the issues involved with attempting to buy a home without a real estate agent. Whether you don’t have your own agent and want to use the selling agent or don’t have any representation for the buyer or seller things can go wrong as noted in this article. From overpaying, disclosure issues, inspections issues and more a go it alone approach runs a very high risk that something will go wrong and you won’t have any expertise to fall back on and set things right. Be sure to check out this article if you think buying a home without an agent is easy to do.
Escrow Money/Earnest Money Explained
In this article Kevin Vitali looks at earnest money and how it is handled once an offer has been accepted. For the very moment an agent takes the check the earnest money is not to be used for anything other than the purchase of a home. Real estate brokers must keep that money separate from their other accounts until closing. Prior to closing there may be issues with the real estate deal that call into question as to where the earnest money should go. Kevin explores in depth what happens in those situations where a deal to purchase a home falls apart and what can happen to the earnest money.
Pros and Cons of the VA (Veteran’s Administration) Loan
VA loans which are available to current military (active duty at least 90 days), former military with veteran status and who have received honorable or general (under honorable conditions). As Kyle Hiscock points out in his latest article for the most part VA loans have many great features like no down payment requirements, no mortgage insurance, stringent inspections and more. There are also some downsides to consider as noted in the article. On the whole the VA loan is a great program for those who are eligible for the loan but anyone eligible should be sure to understand the positives as well as the negatives in order to determine if that type of loan is best for them. Be sure to check out Pros and Cons of VA Loans to learn more.
UAV Use In Real Estate
UAV or unmanned aerial vehicle (also know and drone, quadcopter, RC vehicle) are becoming more common place every day. Some big name retailers and delivery companies are researching the use of UAVs in the delivery of packages to customer’s homes. A UAV mounted with a high definition camera can be used to take aerial photos of homes as well as Anita Clark points out in her latest article about using UAVs to help market homes. In addition to the legal requirements with flying a UAV Anita points out the reasons home marketing could benefit from aerial photos and videos.
What Happens If I Miss A Mortgage Payment?
Have you missed a payment on your mortgage and now worried about the consequences? Then check out this article from Teresa Cowart. In the article Teresa provides some tips and information on what to do if you think you are going to miss a mortgage payment. Hint, not doing anything and pretending nothing will happen is the wrong approach to take. Read Teresa’s article about what happens if a mortgage payment is missed.
What Should Buyers Know Before Attending An Open House
Just Close prepared this excellent guide for homebuyers on what they should be looking for in an open house. Open houses are more than just about checking out what is new and ready to buy on the market. You can take your time and study a house in detail to learn about the finer points of a home and its quality. This is a perfect time to look through a home and determine if it will be the right one for you without having to worry about getting to the next appointment in time.
January 2017 Real Estate Round Up was written by Greater Cincinnati Real Estate Agent Paul Sian of HER Realtors . Paul is a licensed real estate agent in the states of Ohio and Kentucky and has over 10 years of experience. Feel free to contact Paul for all your Greater Cincinnati and Northern Kentucky real estate needs.