Super satisfied 🙂 I and my husband would give them 10 stars. Efficient work well and quickly, very productive. I will highly recommend.
Very, very helpful and pleased with my agent and lenders team. I would not give a 100% I prefer 200%. Great people and friends in my book. Thank you guys for your hard work.
Mortgage loan officers in Lynnwood and across the country have been noticing a trend in declining home sales lately. In February, thirty-one states experienced a decrease in home sales over January, and six states saw a drop from the same time last year. Nationwide, the median sales price for residential properties was $164,667 in February, which represents a decline of one percent from January.
A big part of this trend appears to be related to the dwindling inventory of distressed homes. With many foreclosed properties going on the market over the past years, the housing market had come to depend upon this inventory. However, as demand increases and fewer houses are going into foreclosure, these homes are rapidly drying up. Meanwhile, this dearth of homes is not being adequately compensated for in non-distressed sales or new construction.
Distressed properties still represent a significant part of real estate sales, though. In February, 5.7 percent of sales were short sales and an additional 11.2 percent represented sales of homes owned by banks. This makes for a combined percentage of distressed sales of 16.9 percent, which represents an increase from January’s 16.1 percent but a decline from the 19.1 percent we saw in February of last year.
Source: https://www.mortgagenewsdaily.com/03272014_realtytrac_home_sales.asp
Sometimes, it can be difficult for a real estate agent to find the get-up-and-go that he or she needs to dive into a new, profitable year. If you find yourself having trouble sliding out of bed and into your blazer every morning, take the following advice from a long-time Lynnwood mortgage broker:
1. Focus on the Client: If the foremost objective in your mind is to make money, then you’re doing something wrong. You need to go into your job with an attitude that you are there to help people. If you can find in yourself a true desire to serve your clients, this quality will come through in your work, people will appreciate your efforts, and you will ultimately make the money that you deserve.
2. Have Confidence: When you’re feeling down on yourself, it’s empowering to remember that you have a legitimate, valuable set of skills to offer. Your experience and knowledge are both things that most people do not possess. Remember that you have the power to help your clients achieve a very important, very difficult goal, and this confidence will come through in everything you do.
3. Foster a Mindset Conducive of Success: It’s easy to think negative thoughts that can only serve to kill your motivation and limit your ability to succeed. While being self-critical can act as a driving force and inspire you towards self-improvement, you do need to watch out for any attitude that is telling you that there is no point in trying. Always tell yourself that, while you are as flawed as the rest of the world, you have the ability to overcome your flaws and achieve as much success as anyone else.
4. Be Proactive: Have you ever known somebody who posts inspirational quotes and self-affirmations online all day, but never seems to actually get his or her life together? This is somebody who has fostered the right mindset, but is failing to take action. Always remember that the most positive attitude in the world is not going to help you if you don’t act upon it.
Back in January of 2014, the Fed enacted new legislation to regulate mortgage loans. These “ability to repay” rules are putting stricter standards regarding their practice of determining a potential borrower’s ability to repay the money that they have been loaned. In this way, they hope to prevent a market crash similar to what we saw last decade.
The legislation has come under some criticism. Critics fear that the higher standards will lead to greater costs on the part of the lenders, which will translate to higher rates for the borrowers. However, many remain optimistic that the effects will be minimal and largely only affect borrowers with weaker finances. Such people, representing the kind of people who got over their heads in debt with mortgages that they could not afford, will now have to set more reasonable goals for themselves in the real estate market. If all goes well, this legislation could go a long way towards maintaining a healthy economy in the coming years.
So, you’re having trouble selling a house. After a few months on the market, you’ve got to start looking at what you’re doing wrong. Is the economy bad? Is the location bad? Is the place too much of a fixer-upper? You could probably go on for hours about why nobody’s making you the offer that you want, but many good mortgage brokers will tell you that it is pretty much always going to boil down to one important fact: you’re charging too much.
Indeed, take any reason that people don’t want to buy your house and it can most likely be translated to a price issue. No location is so bad that it won’t still sell for a lower price. No repair job is too daunting that a low enough price won’t make it worthwhile. You can have the most desirable house in the country on the market in terms of quality and location, but you’ll still be stuck with it for years on end if you’re charging too much for it.
With this in mind, consider your situation. What kind of offers have you been getting so far? Even if they are significantly lower than your asking price, it may be worthwhile to think of ways that you can meet your potential buyers halfway. After all, even if all the market data in the world is telling you that your home is worth so much, it doesn’t mean a thing if you can’t actually encourage anybody to pay that amount.
Are you looking to give your property a good spit-shine in order to attract high-paying tenants? Â For many landlords, a few well-placed renovations can go a long way towards increasing revenues and occupancy. Mortgage loan broker David Haley offers the following tips for planning a profitable renovation for your units:
Many people, particularly people with older homes, like to look for ways to increase their livable space. This seems to them like a good way to build upon their home loan investment; after all, it’s generally the living space that you’re paying for in a home. However, the common strategy of converting the garage into a bedroom is not generally a good idea.
The first thing to remember is that your garage is not as easy to turn into a bedroom as you may think. Some people want to assume that, since it already has a roof over it, it’s an easy enough operation to lay down some carpeting and put up a new wall where the garage door used to be. However, garages lack the insulation of the rest of your home, so temperatures and noise dampening will be a problem. Meanwhile, anything short of a complete re-do is going to leave you with a room that clearly used to be a garage.
When it comes time to sell this home, you’re probably not going to benefit from this extra bedroom. Potential buyers are likely to use it as leverage for a lower price, or at very least demand that it not count as part of the livable space they are paying for. Not only is a converted garage an unattractive prospect for many buyers, a lot of buyers will be looking for the security and storage space that goes with a garage. Save yourself the time and money, and leave your garage the way it is.
A case going forward in Los Angeles County Supreme Court may have widespread consequences for real estate agents throughout the country. This case, dubbed Bararsani v. Coldwell Banker Residential Brokerage Company, challenges that the accused brokerage company falsely classified its real estate agents as independent contractors when they were actually acting as employees. In doing so, the company failed to reimburse their contractors for their business-related expenses.
It’s common practice in the United States for brokerage companies to maintain their real estate agents as independent contractors instead of employees. The companies find this to be beneficial, as keeping their total employees under a certain number saves them from significant paperwork and expenses. Many of the agents themselves also find it to be an agreeable situation, as their contractor status allows them to be their own bosses and not have taxes withheld from their paychecks.
Though federal law allows for real estate agents to act as contractors, these laws may have to be re-analyzed depending on the outcome of this trial.
What do you know about credit scores?  In today’s financial world, a proper understanding of your credit score and how it affects you is becoming more and more crucial.  Following the financial crisis of the last decade, people are waking up to the importance of credit and the role it needs to play in a healthy economy.  It is therefore that, as a responsible citizen, you can no longer afford to not arm yourself with a basic knowledge of credit scores, how they work, and how they come into play in your life. Continue reading “Your Credit Score”
Earlier this year, a mortgage broker company in Manhattan became the first company of its kind to accept bitcoins as payment. Bitcoins, representing a form of digital currency, have been making a splash in recent years as they have legitimized themselves from being worth pennies apiece to being worth upwards of six hundred dollars. Some people are optimistic that this new monetary form will have a lot of potential in the modern real estate market, but its future as a viable currency remains uncertain.
In truth, the bitcoin market is highly unstable. Investors are turned off by how easy the coins are to lose. Also, over-ambitious bitcoin “miners” could crash the entire system single-handedly. It’s a currency plagued with uncertainty, and the real estate market does not like uncertainty.
The real estate world learned a harsh lesson about the bitcoin when a couple of big players in the bitcoin market restricted the ability of bitcoin users to withdraw their digital currency. This led to a sharp decline in bitcoins, which lost investors 20% of their bitcoin value. Clearly, while digital currency may someday become a valuable part of the real estate world, the system may require more regulation before any more mortgage companies care to take a chance on it.
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