The Hawaii Team Real Estate Blog
Reverse Mortgage for Purchase?
We usually think of a reverse mortgage as a way to help people over 62 use the equity in their homes to upgrade their quality of life. But what if they want to buy a new home?
Divorce Mortgages
A divorce mortgage is a refinance transaction that removes the departing spouse from the current debt secured by the home. The spouse retaining the property refinances the loan that is in both parties name with a loan in their name alone.
Keeping Up With The Jones’
Last month, I received an email from a reader of this column telling me that the problem of “keeping up with Jones” was one of the main reasons we got into real estate trouble in this country.
Can you still get a mortgage?
You do not have to be Bill Gates to get a mortgage, however, mortgage requirements have tightened up considerably. Unless you are a vet applying for a VA mortgage, 100% financing is gone.
Toxic People
There is a saying in business that 20% of the people you deal with create 80% of your aggravation. I believe this to be true because I have seen it time and time again in my own life. The question is: what do you do with the 20% that you consider as toxic people?
The Gap Between Buyer and Seller Is Still Too Great
Fuller Sotheby’s International Realty Agent Dan Polimino tells us that when it comes to the Real Estate transaction buyers still don’t get along with sellers and visa versa.
Seduced by an ARM (Amazingly Risky Mortgage)?
A common myth among people with an ARM (Adjustable Rate Mortgage) is that they can switch to a fixed rate mortgage when they see interest rates headed up. This is like waiting to put on your seat belt before a traffic accident. By the time you react, it is too late. Remember that interest rates float down and jump up.
What is a zero or no cost loan?
This is a mortgage without any closing costs added on to the loan or paid by the borrower. Examples of closing costs would be origination fees, discount points, appraisal cost, processing, underwriting fees, title insurance and recording fees. A mortgage where these costs are added in is not a true no cost loan.
Which Home Should I Buy?
In this week’s market update Dan Polimino tells us why it’s not a good idea to buy the highest priced, most improved home on the block if you think you might sell it one day.
Is your condo FHA approved?
The market value of condos may be further depressed by new Homeowner Association (HOA) requirements set by FHA. FHA loans are the most popular mortgage product for condos because of the combination of low down payment and easier qualifying.
Home sellers need to go see their competition
Fuller Sothebys International Realty Agent Dan Polimino tells us this week why it’s important a seller of a home take a tour of the other properties for sale in their neighborhood.
Perfect, Smart Investment Home for Sale at Highlands Ranch
This wonderful five-bedroom, four bath, 3800 square foot home rests just steps away from a quiet greenway path, and Redstone Elementary School.