The Hawaii Team Real Estate Blog
Do You Really Know How Thanksgiving Started?
Of course I could have written the traditional column about what I am thankful for this Thanksgiving, but I thought this year I would take a different approach.
Assumable Loans Are Back
Just last month, I was able to refinance my home to an even lower rate than what I had in 2008. I am just amazed that I have a mortgage with less of an interest rate than what my parents paid for our home in 1968.
Put In a Back Up Offer
When there is a shift in the market to a seller’s market, there can be a frenzy to buy homes quickly before someone beats you to the punch. I have had my share of buyers that wanted to see a house only to find out that the house was sold in two hours.
Using a reverse mortgage for a divorce
An unfortunate trend that we are seeing is mature couples getting a divorce. Sometimes the remaining spouse takes out a new mortgage to payoff the departing spouse for their equity or agrees to make the monthly payments.
The Spreadsheet Guy
Have you ever heard of the spreadsheet guy? It is today’s modern buyer. He is highly educated, highly motivated, and beyond analytical. This is the guy that goes out to look at homes with his laptop or iPad in hand.
Absorption Rate Pricing
What is absorption rate pricing? Here is a quick definition: Absorption rate pricing answers the question, “How many months will it take to sell all the homes in my area at the current rate?”
I Don’t Have To Sell
Many times, I would go on a listing appointment to talk with a potential seller and they would tell at the end of the presentation, “Well, I really don’t have to sell!”
The Bait and Switch
When I came out of college, I got a job selling cars and some of my fellow car salesmen were involved in the old “bait and switch” tactics of selling.
Help Your Lender Help You
The most dreaded part of applying for a mortgage is all the paperwork. Mortgage documentation requirements are more stringent than ever and every “T” must be crossed and every “I” dotted.
Cash-IN refinance?
A cash-in refinance is when the new mortgage is smaller than the existing mortgage and the homeowner brings cash to the closing table. In contrast, a cash out refinance is where the old mortgage is less than the amount of the new mortgage and the borrower receives cash back.
Disputed Accounts
So, you’ve exercised your rights as dictated by the FCRA and disputed some inaccurate information on your credit report. Statistics show that 80% of credit reports contain inaccurate information. Disputing these inaccuracies is your legal right and is encouraged by the Federal Trade Commission and consumer groups.
Credit Card Limit Cut?
Been making your credit card payments on time, careful not to exceed your limit, and been shocked when the credit card company cuts your limit or closes the card without warning?