If you have your eyes on a piece of land or property - jump on it! It might not be there next time you think about it.. #yourlenderjake
Be sure to find the right neighborhood for you. Look for a good school district, as homes in those neighborhoods tend to hold their value better in a declining market and rise faster when the local market is strong. If you plan for the long term, the hiccups in the road are negligible. #yourlenderjake
If you're selling right now, you don't need a sledgehammer to crack a nut. With inventory so tight, you have the freedom to let the game come to you and be selective with buyers. #yourlenderjake
Expecting the unexpected in today's economy has become the norm. We should always strive to know more and to educate our future generations about finances and mortgages. As hard as it is to teach others about market fluctuation, we should always anticipate changes. #yourlenderjake
When searching for your newest home, its up to you to do your research. Look for a good school district, research the crime rate in the neighborhood and get to know who the neighbors are. There's nobody to blame but yourself if unexpected facts arise involving where your new home is. #yourlenderjake
Lenders are normally protected from the risk of default and foreclosure by an insurance mortgage policy known as the (PMI) Private Mortgage Insurance. This program is made for buyers with the funds to make a significant down payment or some buyers who won’t consider making a down payment and get affordable rates for their mortgage finance terms. PMI is normally acquired when a buyer makes a home purchase with a down payment below 20%, the lender will probably require you to get insurance from a PMI after approving the loan to minimize risk. [ 251 more words ]
https://yourlenderjake.com/tips-to-avoid-paying-pmi/
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Tips To Avoid Paying PMI | Minnetonka Mortgage Broker | Jacob Kornberg Mortgage Broker
The real estate revolution is already here, and it's all about being safe while meeting buyers and sellers needs. Some of the markets are affected by the virus while many others report a steady flow of transactions and even an increase. Make sure to always follow safety guidelines. #yourlenderjake
Don’t make mortgage loan decisions without understanding the implications. Before signing on the dotted line and seeing a green light, understand the financial and legal implications of the loan. #yourlenderjake
In a home buying transaction, there are two known professionals to help the buyer get the best experience until closing. These two are a real estate agent and a loan officer. If you are to ask, most people are likely to know much about real estate agents than loan officers. Loan officers are less-known most especially to new and first-time homebuyers. [ 467 more words ]
https://yourlenderjake.com/realtors-vs-loan-officers/
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Realtors vs Loan Officers | Minnetonka Mortgage Broker | Jacob Kornberg Mortgage Broker
Home inspection isn’t a recommendation - it is a must. This small expense is overall a net gain for the buyer, and should never be overlooked. This expense is nothing compared to the potential financial damage it can cost when you do not get your house inspected. Get out of your own way and let the experts take a look. #yourlenderjake
Maintenance and home repairs should not be seen as an expense. They should be seen as a way to save money on your house. When we don’t maintain our homes, besides the direct reduction in the resale value of our property, it also indirectly costs us more down the road. Take care of your home, as you would any other asset. #yourlenderjake
Ultimately, a handshake is the final cut when it comes to making a deal - and it's not all about the legal contract. Having trust within both parties in any kind of contract situation should be the end-all goal. #yourlenderjake
Even if you're well-versed in real estate investments, buying a property in foreclosure has several additional elements that you may not be familiar with. Don't leave things up to chance - find out the steps that need to be taken to get this done right. #yourlenderjake
Housing Market 10.28
Real estate is the perfect investment, not only because it's lucrative and stable, but because it's so versatile. This includes passive versus active real estate investing. If you're looking for passive income, you can invest in REITs, which are equivalent to investing in any stock. If you're alternatively considering a more active investment, there are options like house flipping and property management. #yourlenderjake
When searching for a new home or property, don't waste your time by trying to do the research all on your own. An expert will save you your time and money by knowing the market and how to navigate it. #yourlenderjake
Always consult a knowledgeable party when it comes to a purchase such as a new home or property. You don't want to finish the process and then realize that there were mistakes in your contract that you happened to overlook. Fixing them might be more time, financially and emotionally consuming than having an agent walk you through the process from the beginning. #yourlenderjake
Pricing your home the right way is one of the most sensitive aspects of putting it up for sale. Price it too high, and you risk your listing going stale by turning off buyers. Price it too low, and you risk leaving a tremendous amount of money on the table. It's important to seek guidance from a professional because homeowners tend to overvalue their properties. #yourlenderjake
Wishing you and your family a safe and happy Thanksgiving! #yourlenderjake
Real estate contracts are usually simple and standard but think twice before signing before you consult with a real estate agent. You could be simply getting a bad deal. #yourlenderjake
If you are buying only a part of a property, the best way to take ownership is to apply for a formal subdivision. Otherwise, you could get stuck jointly owning a non-specific portion of the seller's property. #yourlenderjake
Signing a new home purchase agreement needs to be up to your standards and cover all aspects. Don't get stuck with agreements that contradict your needs - have your agent review the agreement for you. #yourlenderjake
Using an unlicensed or non-regulated financial advisor to help you qualify for your dream home isn't always recommended - the market is filled with stories of unsuspecting homeowners who ended up with loans that they couldn't afford or terms that did not actually apply to them. Use only licensed advisors and agents when buying what is probably your biggest personal investment. #yourlenderjake
Staging is an easy way to increase the value of your home before putting it on the real estate market. While professional staging may be unaffordable for most, there are simple ways you can drastically improve your home's showability: declutter by storing anything that looks out of place, remove all personal items such as family portraits, and, of course, make sure your home is impeccably clean (this includes tidying up the outside for maximum curb appeal). #yourlenderjake
If you find yourself having trouble making your monthly mortgage payments, it's perfectly ok to pick up the phone and ask for new terms. In fact - your bank would much rather have that conversation with you than have to threaten foreclosure. #yourlenderjake
If you feel as if your agent isn't fine-tuning your needs and desires for a new home, speak up! Better to re-communicate what you're looking for before it's too late. #yourlenderjake
Our impact on the environment doesn't just affect us - it affects the people around us. Developers and construction companies have a responsibility to get advice on all the environmental and health regulations that apply to their projects. Before deciding to build or purchase a home, be sure that everything is up to code. #yourlenderjake
Don't let zoning and use restrictions scare you off from investing or purchasing a property in historic or cultural districts. There may be some extra hoops to jump through, but these areas can be some of the most attractive hotspots in the area and still have the potential for nice returns even if you have less flexibility. #yourlenderjake
The path of least resistance for renovating and revitalizing your new property is to follow the same building and zoning codes that applied to it until now. Working by the book doesn't mean, however, that there is no room for creativity - just that certain standards will need to be maintained. #yourlenderjake
With the COVID-19 containment measures changing our daily habits, one emerging trend is the rising popularity of single-family rental units. Talk with your agent to help start your search! #yourlenderjake
