Finding A Mortgage Broker

Finding A Mortgage Broker

If you are in the market for a new home, or looking to refinance your existing mortgage, then you will want to consider the option of hiring a mortgage broker rather than an individual lender or lending institution. With times being as tough as they are for so many people, and the instability of the financial markets, shopping around for the best deal in a mortgage is of vital importance. A mortgage broker is a one-stop mortgage option that can save you time, and most importantly, money. Here are just a few reasons you should consider a mortgage broker.

Who Are Mortgage Brokers?

Mortgage brokers are financial professionals who are paid a commission to match lenders and borrowers. They usually work with dozens of lenders as freelance agents and can match you with a lender than offers the best mortgage for your financial situation and personal needs. They are qualified to evaluate your credit situation, offer you a variety of loans from different lenders, and can submit the home buyer’s application to one or more lenders. A good mortgage broker is able to find a lender to suit a buyer with just about any credit rating.

Why A Broker Can Work For You

While the idea of a commission fee paid to a broker may not seem worth it, in most cases this cost is passed back to the lender. Brokers provide a service to lenders which saves them time and resources, and often they are willing to absorb this cost. Lenders who work with brokers are also more aware that their offer will be competing with other offers from different institutions, and in many cases this means that you are getting the most competitive rates and terms available.

A mortgage broker can definitely find a mortgage that can work for you, but as in hiring any professional, be sure you are certain they are qualified to give you advice and services you are requesting. Your REALTOR® can give you the names of reputable brokers in your area, and there are also a number of organizations that monitor the profession.

RE/MAX Connection Realtors disclaimer:
RE/MAX Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
RE/MAX Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

Ten Tips To Successfully Market Your Home

Ten Tips To Successfully Market Your Home

There is a lot more to putting your home up for sale than placing a sign on the front lawn. Selling your home quickly and getting the best price possible requires marketing your property and using the services of an experienced agent. Here are some of the strategies you can use to market your home.

Hire A Professional REALTOR®—The ability to market your home is always best served by hiring a real estate expert. They have access to resources that you as an individual do not, and their experience and knowledge are certainly worth the commission.

Photograph The Exterior Of Your Home—Good high quality photographs of the entire exterior of your home can really spark the interest of potential buyers. These photographs can be used in a variety of online and print marketing campaigns.

Photograph The Interior Of Your Home—Be sure you also have good quality photos of every major room in your home, especially the kitchen, bathrooms, and master bedroom. Also ensure that these pictures are taken in good light, and from angles that best highlight the space they are to represent.

Purchase A Virtual Tour—Virtual tours are one of the latest and most effective marketing methods in the real estate industry. Essentially a virtual tour allows potential viewers to get a 360-degree perspective of your property from the comfort of their home or office. This method is also a great way to assure that only interested buyers show up at an open house. Your agent can have these tours put on multiple listing websites as well as on their own pages.

Print Advertising—While this may seem to be a costly and outdated marketing method, there are still a considerable number of potential buyers who use print resources to find prospective properties.

Signage—Be sure you have clear, visible signage on your property that indicates it is for sale. Also, be sure your agent’s contact information can be seen from a distance so that those passing by can take down their name and number.

Direct Mail—Again, this may seem like an outdated method of advertising, but it is still effective, especially if your home may appeal to an older demographic.

Open Houses—This is still the most effective way to get a sale. Be sure your home is in clean and presentable condition before hosting an open house, and ask your REALTOR® for advice about preparing your home for such an opening.

Agent Tours—These tours can give agents a better look at your home without having the general public in your house, and can assist them in matching your home with their clients. Your agent can arrange these tours.

E-marketing—Like print advertising, this is a fairly inexpensive and effective method of marketing your home that your REALTOR® can offer to you as part of their services.

RE/MAX Connection Realtors disclaimer:
RE/MAX Connection Realtors are not licensed financial advisors, and are not providing any financial advice, you should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
RE/MAX Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

January Existing Home Sales

NAROFF ECONOMIC ADVISORS, Inc.
Joel L. Naroff
President and Chief Economist

INDICATOR: January Existing Home Sales
KEY DATA: Sales: up 2.7%; 1-Family: +2.4%; Condos: +4.7%; Median Prices: -3.7%

IN A NUTSHELL: “Distressed homes are being recycled and while that may be bad for prices it is good for the housing market.”

WHAT IT MEANS: The housing market is slowly coming back, powered by rising distressed homes demand. Existing home sales improved solidly in January to the highest level in eight months. In the spring, sales were boosted by incentives but now they are being driven by sales to investors. Regionally, only the Northeast posted a decline while the West led the way with a nearly 8% increase. The National Association of Realtors noted that all cash purchases and investor demand has been rising consistently and is beginning to make a dent in the inventory, which is falling sharply. But there is no such thing as a free home and with distressed properties accounting for such a large share of the demand, it is not surprising that prices continue to decline. In January, they were the lowest in almost nine years.

MARKETS AND FED POLICY IMPLICATIONS: This was a good report as sales are steadily rising and inventory is thinning. We have to be cautious about prices, though. Yes, they look abysmal but with so much of the market being driven by distress sales, it is not clear what has happened to the price of “normal” properties. I suspect in those cases, the price declines are limited and in those areas where foreclosures have been modest, they could even be rising. Don’t be surprised if housing adds to growth all this year, though with the pace of sales and construction so low, not a lot of jobs will accompany those gains. Meanwhile, back in the Middle East, turmoil continues and until we get some idea when it will end and what the implications are for oil and other commodities, investors are likely to remain on edge.

RE/MAX Connection Realtors disclaimer:
RE/MAX Connection Realtors are not licensed financial advisiors, and are not providing any financial advise, you should consult with a licensed financial advisior prior to making any financial decisions. RE/MAX Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
RE/MAX Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com

Choosing The Right Listing Agreement

 When listing your home with a REALTOR®, you will be required to sign an agreement.  This document will outline all of the agreed upon terms, including the asking price of the property, the REALTOR’S® commission, length of the agreement, cancellation policy (if any) and other details that will govern how the listing is handled.  As a homeowner, it’s important to choose the right listing agreement to fit your needs.

Evaluate Your Options

When you decide to sell your home, talk with several different REALTORS®.  Speak with them over the phone, meet with them in person, ask for references or do anything that you can to get a feel for how they do business.  In real estate, punctuality is a must.  The REALTOR® that you choose should return your calls, answer your questions and should provide a listing agreement that coincides with any verbal agreements that you may have had regarding the listing.  For instance, if you tell your REALTOR® that you only want to list your property for six months, make sure the listing agreement reflects six months and not one year or longer.  In addition, make sure that your asking price is the same in the agreement as you agreed upon in earlier discussions.

Exclusive Right-To-Sell Real Estate Agreement

This contract is the most common in the real estate industry.  With this agreement, the REALTOR® will earn a commission regardless of whether they sell the house or you sell the house yourself.  Always make sure you understand what you are signing. 

Open Real Estate Listing Agreement

This type of contract allows a homeowner to list with more than one REALTOR® in a non-exclusive manner.  The agent responsible for presenting a buyer who purchases the property will receive the commission, which means REALTORS® will compete to see who can sell the house first.  If the owner eventually sells the home without the help of a REALTOR®, they are not required to pay anyone a commission.  An Open Listing Agreement is not common with REALTORS®, but it is one option to consider.

Exclusive Real Estate Agency Listing

This type of agreement requires that the homeowner list their property with only one real estate agency.  Unlike an Open Listing Agreement, where the homeowner can list their property with multiple REALTORS®, an Exclusive Agency Listing entails only one agency being granted permission to list the home.

Read The Fine Print

Before signing any type of contract, homeowners must read over every detail to ensure that it represents the full agreement between themselves and their REALTOR®.  Some things to consider include the length of the contract.  Some REALTORS® prefer to have a minimum of one year to list a property, but the homeowner will have the option to negotiate.  Some owners prefer a shorter term, such as one to six months.

Every real estate contract should outline a cancellation policy, which will provide details surrounding a release and/or fees and penalties.  Some agents will offer a cancellation policy that allows the homeowner to cancel the contract by providing a 30-day written notice at any time.
RE/MAX Connection Realtors disclaimer:
RE/MAX Connection Realtors are not licensed financial advisors, and are not providing any financial advise, you should consult with a licensed financial advisor prior to making any financial decisions. RE/MAX Connection Realtors are only providing this economic statement from Naroff Economic Advisors, Inc. for informational purposes.
Our company accepts no liability for the content of this email/blog, or for the consequences of any actions taken on the basis of the information provided. Any views or opinions presented in this email/blog are solely those of the author and do not necessarily represent those of the company. Finally, the recipient should check this email and any attachments for the presence of viruses. The company accepts no liability for any damage caused by any virus transmitted by this email.
RE/MAX Connection Realtors, 1000 East Lincoln Drive, Suite 2, Marlton, NJ 08053 www.goconnectionnj.com