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Archive for March, 2015

What Are Pending Real Estate Contracts?

What Are Pending Real Estate Contracts?

Question: On a frequent basis I see news reports concerning “pending” home sales. What are they and are they significant? Answer: Pending home sales are a measure of real estate activity released monthly by the National Association of Realtors. “A sale is listed as pending,” says NAR, “when the contract has been signed but the […]

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Should We Dump Mortgage Insurance?

Should We Dump Mortgage Insurance?

Question: I have always felt that mortgage insurance benefits just a select few and if it were withdrawn or otherwise eliminated and people required to put at least 5 percent down and preferably not more than 10 percent, you would see huge home sale increases. People would also have a much easier time when they […]

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Does It Make Sense To Prepay An ARM?

Does It Make Sense To Prepay An ARM?

Question: We often hear about the advantages of prepaying fixed-rate mortgages but not the benefits of paying ahead with ARMs. I have prepaid my ARM over time and now enjoy far lower monthly costs because of less principal and lower rates. Why not encourage more people to take this approach? Answer: You raise an important point. […]

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Does Wall Street Home Buying Hurt You?

Does Wall Street Home Buying Hurt You?

Question: Wall Street firms are buying up huge numbers of single-family homes. How does this impact private home buyers? Answer: We usually think of single-home real estate investors as local people who buy several properties and keep them over time or as rehabbers who buy properties, fix them up and then quickly re-sell. The entry […]

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Is Your Real Estate Offer Confidential?

Is Your Real Estate Offer Confidential?

Question: We made an offer on a home. The listing broker said there were three more offers and we would have to increase our bid. The other offers, like ours, were all cash. How do we know there was another bid or that it was higher? If we raise and win (or lose) can we […]

Posted in: News