What military buyer wouldn’t want to shave more than a third off the price of a home? Distressed properties sold at an almost 37 percent discount in March 2017, according to RealtyTrac. Fortunately for cash-conscious military buyers, VA loans can be used to purchase foreclosure or short sale properties if the property meets the VA home loan guidelines set by the Department of Veterans Affairs. But as expe… Full Article
Apartments, condos, manufactured homes, co-ops, single-family homes — modern real estate has come a long way since the days of the one-room shack. The current market offers a wide variety of homes to satisfy any buyer’s desires. But VA loan buyers will need to focus on certain types of properties to win final loan approval. Knowing how VA loans work is the first step toward getting the home of your drea… Full Article
So your buyer wants to use their VA loan on a condo? Make sure you follow this plan to avoid extra stress. It's easy for agents and buyers to get frustrated with the condominium approval process, so setting clear expectations early with all parties can prevent additional problems. While purchasing a previously unapproved condo can add some additional work, it's completely possible to close this type of loan. As… Full Article
Are you wondering how your VA appraiser will feel about exposed wires, a sparking fuse box or knob-and-tube wiring? Ponder no more. Let’s talk about the electrical portion of the VA appraisal. MPRs and Electrical Systems The VA issues a list of Minimum Property Requirements (MPRs) to every VA appraiser. Appraisers must ensure that properties meet or exceed MPR standards to qualify for VA financing. … Full Article
It may sound cliché, but the old adage “work smarter, not harder” is the most relevant piece of advice for agents and brokers alike. Increased costs and changes in homebuyer behavior have made it absolutely necessary for all agents to embrace this principle – especially when pertaining to marketing. Even if things are going relatively well, one thing holds true and that is you can always improve your market… Full Article
In most parts of the country, winter is a slower time for real estate sales. Buyers hibernate, inventory shrinks, and sales languish. Selling a home in winter can be a bit more challenging, but don't panic. With a few winter-specific selling tips in your pocket, you'll be able to put the best face on any winter listing. Tip #1: Display the year-round beauty of your listing. Landscaping typically doesn’t lo… Full Article
Working in real estate can be dangerous. It’s common for agents to meet strangers in isolated locations at odd hours, which can be the perfect setting for an attack. The real estate, rental and leasing industries have seen an average of 77 work-related deaths a year from 2011 to 2014, according to the Bureau of Labor and Statistics. The best way to protect yourself? Arm yourself with a healthy level of mistrust … Full Article
During the holidays it can be difficult to keep buyers engaged and active in their home search or their loan process if under contract. People travel, they have house guests and their to-do lists get pretty long. It’s easy to see why the house hunt may get sidelined or forgotten when there are so many other things to focus on. As an agent you want to keep your buyers engaged and active in the process through the ho… Full Article
REALTOR® income is up for the second year in a row, according to the 2013 National Association of REALTORS® (NAR) Member Profile. The median gross income of a REALTOR® jumped from $34,900 in 2011 to $43,500 in 2012. You know what that means: A new crop of real estate agents is trickling onto the scene. Cities like Detroit and Jacksonville are already seeing an influx of new real estate agents as the market rebo… Full Article
The unbeatable benefits of the VA loan program aren’t bestowed on every property that catches a military buyer’s eye. In order to garner VA approval, every home must undergo a VA appraisal. And although the VA appraisal has a reputation for being rigorous, its intentions are honorable: ensuring that homes purchased by veterans are fiscally and structurally sound. So how tough is the VA appraisal? In thi… Full Article