Can Lenders Request More Information?

 

Can Creditors Collect Information Beyond The 6 Required Pieces? In addition to the required pieces – Name Income Social Security Number Property Address Estimated Property Value and Mortgage Amount sought – a creditor may collect whatever additional information they deem necessary. However, as soon as you have provided the 6 required pieces, the creditor has 3 business days to provide a Loan Estimate for approved loans.

Calculating Your Asking Price

 

The best answer is get help from a real estate professional. But, if you only have a few minutes for a video, here are five points to consider.

1. Start With Measurement Learn the average per-square-foot price for recent sales in your neighborhood. That will not set your final price, but it is a baseline buyers will use.

2. Get Comparisons Ask for Comparative Market Analysis – comps – from several agents. Go through each comp with each agent to understand both competitive homes on the market AND each agents potential approach to yours.

3. Market Research. Do your own! – not just online, but in person. That will help you understand your market conditions and the buyers perspective realistically. Markets get hot and cold, up and down, and yours defines the sales envelope for your home.

4. Consider All Terms Price isnt all there is to a sale. Can you close faster? Finance or lease-option the sale yourself? Cover some closing costs? Your flexibility can make sales leverage.

5. It is Not Personal. The hardest tip of all. Most people are emotional about their home. Pricing, in the long run, is going to logical. Theyre buying your house,not your home & memories. Find a real estate professional you like and trustand let them help you through the process.

WESTON – FOR SALE – 2/2.5 – GREAT PRICE

WESTON – FOR SALE – 2/2.5 – GREAT PRICE

BEAUTIFUL 2/2.5 WITH AMAZING VIEWS. CAN BE RENTED FOR 4 MONTHS ONLY. BRAND NEW KITCHEN NEW APPLIANCES, WASHER AND DRYER INSIDE THE UNIT, LARGE BALCONY, LAMINATED WOOD FLOORS. GOLF COURSE AND LAKE. ENJOY THE BEAUTIFUL TOWN CENTER AND ACTIVITIES. COMMUNITY POOL AND TENNIS.

If you are considering buying, selling or renting, in Brickell, Coconut Grove, Downtown, Coral Gables, Pinecrest, Palmetto Bay, South Miami, Doral,  please feel free to contact me.

George R. Assal
Broker-Associate® | BBF Member | Property Manager |REO & Short Sale Specialist|English- Español
EWM Realtors® | A Home Services of America Company | An Affiliate of Berkshire Hathaway
Brickell Office | 901 S. Miami Avenue, Suite 215 | Miami, FL 33130
C: 786.554.8063|O: 305.329.7635|F: 888.240.5507|
George@GeorgeAssal.com  | www.GeorgeAssal.com

National Open House Weekend April 28th and 29th 2012

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With plentiful inventory and record breaking housing affordability conditions, Realtors® expect this year’s spring home buying season to be a busy one. To kick off the season, Realtors® from coast to coast will host thousands of open houses as part of the Realtor® Nationwide Open House Weekend. On April 28 and 29 Realtors® in SOUTH FLORIDA will hold open houses all weekend long, bringing buyers and sellers together.

While the housing market continues to recover, it’s showing signs of improvement and for many, homeownership remains an important part of the American Dream. According to research from the National Association of Realtors®, more renters than ever aspire to become homeowners and an overwhelming majority of Americans believe buying a home is a solid financial decision.  

Homeownership matters to individuals, families, communities and our nation’s economy. The housing market plays a vital role in both the long- and short-term health of this country. Homeownership is not just an investment in your future; it’s an investment in the future of generations to come.”

Earlier this year NAR reported housing affordability conditions reached the highest level since recordkeeping began in 1970. The housing affordability index is based on the relationship between the median home price, median family income and the average mortgage interest rate. The index reached 206.1 in January, the first time the index broke the two hundred mark. The higher the index, the greater the household purchasing power. This means the typical family has roughly double the income needed to purchase a median-priced home.   

Realtors® believe that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream, Realtors® know what matters most to buyers and sellers in this area and have the expertise and knowledge to help you achieve the dream of homeownership.”

 

For more information contact me 7865.554.8063 or via email george@georgeassal.com