You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.
But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available. ... read more
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid.Lowball OffersGoing far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you&rsq... read more
Real Estate is an industry that affects everyone. It is a barometer for a good economy. So, with the spotlight on the real estate industry, there are plenty of fly-by-night companies trying to cash in by making promises that unfortunately are often not kept. The reality is that there are many large, successful and ethical companies that have been in business and have been supporting consumers real estate services for years - some for decades - through good markets and bad. How does this work? Many... read more
Exploring options for a mortgage can be daunting. There are so many questions that we face.Who do you choose? Who can you trust? What's the best option? Chris Harding, Senior Loan Officer at Northeast Equitable Mortage, broke down the differences between a broker, a banker and a mortgage lender to make it easier for you to decipher. Let's take a look at his breakdown:
Mortgage BrokerA mortgage broker is a middle person or “matchmaker” who represents the mortgage loan products of man... read more
The big question on everyone’s mind when they think about the current real estate market is, “What’s next?” The past few months were marked with fewer homes for sale and higher demand, which caused Sellers to push up their asking prices. Why? Well, because they could. And Buyers were answering, too. In June, we saw that the Average Sold Price was at its highest in some of the counties in the Delaware Valley. You can see the full report here. But will that trend continue? Let’s take a l... read more