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Buying A Home in Long Beach CA Step By Step

Buying A Home in Long Beach CA Step By Step | Real Estate and Mortgages | Scoop.it

Maya Swamy and Realty Check are always looking for new ways to make and Long Beach real estate more efficient AND less costly for our clients, without sacrificing quality or service. Some of the steps you need to take are:presented in this article.


Maya Swamy's insight:

This article gives you step by step instructions on what you need to do so you get into the right home at the right price.


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How to decide if a Reverse Mortgage is right for you. - News - Bubblews

How to decide if a Reverse Mortgage is right for you. - News - Bubblews | Real Estate and Mortgages | Scoop.it
Speak Freely. Write Your World. (How to decide if a Reverse Mortgage is right for you. - News - Bubblews http://t.co/gU5dqmsha4 #bubblews)
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Mortgage Rates Bounce Back to Week's Lows

Mortgage Rates Bounce Back to Week's Lows | Real Estate and Mortgages | Scoop.it
Mortgage rates were lower today right out of the gate, continuing a move set in motion by comments from Fed Chairman Bernanke late in yesterday's session.
Maya Swamy's insight:

The panic over the possible Federal Reserve actions seems to be receding and interest rates are lowering again.  This should last some months but if you are looking for a mortgage the time to act is now.


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No Simple Answer to "What is This House Worth?" - FOX VALLEY LIVING

No Simple Answer to "What is This House Worth?" - FOX VALLEY LIVING | Real Estate and Mortgages | Scoop.it
Maya Swamy's insight:

There is a saying in real estate that a house is worth what ready, willing and able buyers will pay for it.  As Leslie points out that is an emotional decision that only the buyer can make.  The Realtor will give you an educated estimate of a range within which others might make an offer.

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Home Buying Tips for our Home Buyers

Home Buying Tips for our Home Buyers | Real Estate and Mortgages | Scoop.it

Buying a home can be one of your most significant investments in life. Not only are you choosing your dwelling place, and the place in which you will bring up your family, you are most likely investing a large portion of your assets into this venture. The more prepared you are at the outset, the less overwhelming and chaotic the buying process will be. The goal of this page is to provide you with detailed information to assist you in making an intelligent and informed decision..

Maya Swamy's insight:

A good overview of what you should consider when buying a home and the steps you should take to being prepared. These points are valid no matter what the market is like, where your are buying and what price you are buying at.

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Home Sellers do's and don'ts when preparing for a showing -

Home Sellers do's and don'ts when preparing for a showing - | Real Estate and Mortgages | Scoop.it
Home Sellers preparing for for a showing. The do's and don'ts of such preparation; and what you do can determine if you get an offer
Maya Swamy's insight:

Jennifer Fivesdahl really zeros in on how to prepare your homes for top value in this and any other real estate Market

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Is the Closing Date on the contract the actual closing date? -

Is the Closing Date on the contract the actual closing date? - | Real Estate and Mortgages | Scoop.it

The Closing date in many cases is not the same as the one in the contract.

Times when the date on the contract would be the actual Closing date

The actual Closing date in mostly to be the actual closing when the buyer is paying cash.

If every thing meet the timeline at every step of the process.

Why the closing date might be missed

So many things can go wrong during the process, especially when it comes to the mortgage process.  I just had a cased where the underwriter said an appraisal was not necessary, then three days before the Closing date an appraisal was requested which made the closing two weeks later.

Maya Swamy's insight:

A very good article on all the issues on how the actual date your home purchase depends on a variety of unpredictable factors.

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Why Are Mortgage Interest Rates Rising?

Why Are Mortgage Interest Rates Rising? | Real Estate and Mortgages | Scoop.it
The cost of buying a home is going up. What's behind the rise in interest rates? Is now still a good time to buy? WSJ's Jason Bellini has The Short Answer. (Why Are Mortgage Interest Rates Rising?
Maya Swamy's insight:

I seem to be bringing this to you from many different authorities.  But it comes down to the same thing.  The Fed is going to slow down the buying of bonds at low rates.  To sell bonds they have to attract private investors. Private investors want higher rates. Mortgageges are sold as bonds.  To be sold at a higher interest rate they have to charge a higher interest rate. Which means steadily or rapidly rates are going up. The question is how does that affect your financing decisions?

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Underwater mortgages recede as Fresno County home values rise | Business | FresnoBee.com

Underwater mortgages recede as Fresno County home values rise | Business | FresnoBee.com | Real Estate and Mortgages | Scoop.it
After years of drowning in underwater mortgages, Fresno County homeowners are finally beginning to come up for air.
Maya Swamy's insight:

Fresno County, CA is typical of many areas of the country that suffered the greatest value loss - the values have increased some but not all the way.  For many the property value may not have recovered to the price when they bought.at.  It might still be a good time to sell and get out from under that too heavy mortgage.

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For Sale by Owner Projects Can Have Higher Risks

For Sale by Owner Projects Can Have Higher Risks | Real Estate and Mortgages | Scoop.it
Many homeowners today relish in the prospect of selling these homes as For-Sale-By-Owner (or FSBO). This allows them to have complete control over every aspect of the process.

Via Sundaybell
Maya Swamy's insight:

Yes, you caan save commission by selling your home yourself.  But do you kniow all the legalities that have to be taken care of?  Do you know  how to look out for all the little clauses, contingencie and condiions a buyer or the buyers agent can put in? Do you know how to work around them?  That is where your Realtor comes in.  And generally they net you more money too.

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Sundaybell's curator insight, July 3, 2013 11:55 AM

Sure you can sell on your own...but I really don't think it's worth it. 

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Real Estate: Six Tips for Enhancing Your Home

Real Estate: Six Tips for Enhancing Your Home | Real Estate and Mortgages | Scoop.it
According to real estate professionals at Los Angeles Real Estate Management, enhancing the appeal of your home is never a bad idea.

Via Sundaybell
Maya Swamy's insight:

There is a word in evaluating a home called 'obsolence' - it simply means out of date.  Any obsolence reduces the value of your home. An example would be perfectly working harvest gold appliances reducing the value of your home.  Steadily updating your home with smaller expenses will maintain and increase the value. When the time comes to sell you will be able to do so at a higher value and less expense.

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Sundaybell's curator insight, July 5, 2013 7:02 AM

Home selling tips.  It's the little things that count.

Rescooped by Maya Swamy from Broker In Charge for A&Z Residential Properties Inc. & Wilkinson & Associates Real Estate Powered by ERA
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Will the housing recovery leave you behind?

Will the housing recovery leave you behind? | Real Estate and Mortgages | Scoop.it
The ongoing housing recovery is helping millions of homeowners, but it may be hurting millions more

Via Phillip Auguste
Maya Swamy's insight:

Now when interest rates are low and home prices haven 't risen too much is time for serious buyer to act.

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What You Need to Know to Buy a Home in Portland

What You Need to Know to Buy a Home in Portland | Real Estate and Mortgages | Scoop.it
First time home buyers tips and tricks when buying a home or property in Portland Oregon.
Maya Swamy's insight:

Not only are buyers agents free to the buyers - they also serve only one master - YOU! When you work with the listing agent who do you think they are loyal to - that is right the one paying them.  That is the seller, What is in the sellers best interest - the highest price.  How does the agent make the most commission?  The highest price. Where are you, the buyer, in all this?

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Hot Real Estate Market Causes Unexpected Glitch For Buyers, Sellers - CBS Boston

Hot Real Estate Market Causes Unexpected Glitch For Buyers, Sellers - CBS Boston | Real Estate and Mortgages | Scoop.it
The real estate market in the Boston area has been crazy lately and that’s adding up to trouble for both buyers and sellers.
Maya Swamy's insight:

Appraisers use at least a 6 month history of sales on comparable properties  in determining the value.  When values are rising as rapidly as now the appraised value can and very often is much lower than today's market value.  If this happens to you you can as this articles suggests: Pony up the difference, renegotiate with the seller, or try for a different kind of loan from a different lender.

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Downtown office buildings are being 're-positioned' as the real estate market heats up

Downtown office buildings are being 're-positioned' as the real estate market heats up | Real Estate and Mortgages | Scoop.it
The shift to ground floor retail uses by downtown building owners is likely to continue as downtown attracts more residents, the report by the Commercial Alliance of Realtors.
Maya Swamy's insight:

Will this change the face of American from one of placid suburbs to one of thriving city centers again?

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Foreclosure Filings Hit Six-and-a-Half-Year Low in June

Foreclosure Filings Hit Six-and-a-Half-Year Low in June | Real Estate and Mortgages | Scoop.it
Foreclosure activity was sluggish in June, dipping 14 percent from May and falling 35 percent from a year ago, according to RealtyTrac’s most recent foreclosure report.
Maya Swamy's insight:

Another really good sign for the real estate market.  The economy has improved and home values will start going up again. And where housing leads the economy follows.

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6 Reasons You Should Get a Mortgage Now

6 Reasons You Should Get a Mortgage Now | Real Estate and Mortgages | Scoop.it
6 Reasons You Should Get a Mortgage Now - Should we wait to refinance or apply for a loan? Are rates going up while inventory is going down?
Maya Swamy's insight:

It is ismple.  Mortgage rates are going up!  Home prices are going up!.  Now may be the time to get that mortgage.


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US Home Prices Rise in May by Most in 7 Years

US Home Prices Rise in May by Most in 7 Years | Real Estate and Mortgages | Scoop.it
U.S. home prices jumped 12.2 percent in May from a year ago, the most in seven years.

Via Phillip Auguste
Maya Swamy's insight:

A combination of low inventory and low interest rates created a peak in demand in May and early June.  However this rapid rise is not expected to be sustained because interest rates have gone up and lenders are expected to release their foreclosed inventory to the market soon .

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Buying a House: The Cost If You Waited

Buying a House: The Cost If You Waited | Real Estate and Mortgages | Scoop.it
We often talk about the potential cost of waiting to buy a home. Today, we want to look at the actual cost for someone who waited over the last year. We used a 10% increase in house values as prices

Via Phillip Auguste
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Pacific Coast Title Company

Pacific Coast Title Company | Real Estate and Mortgages | Scoop.it
Maya Swamy's insight:

Title insurance is one of key considerations in buying a property.  What it guarantees is that everyone who ever sold the property did so legally.  That way no one can come and say 63 years ago my grandad gave this home to my aunt so her brother had no business selling it. My aunt left it to me and i want it so get out.  The lender will demand they be insured.  You should be too.

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What Do Lenders Look at When Determining Risk? | California Home Loans

What Do Lenders Look at When Determining Risk? | California Home Loans | Real Estate and Mortgages | Scoop.it
What Do Lenders Look at When Determining Risk? | California Home Loans - Funds Available offers tips and questions to determine your credit risk, history and score.
Maya Swamy's insight:

Looking at yourself from the lenders view point will give you a clear view of what kind of loan and how much money you can realistically expect. A mortgage broker is trained to analyse your history and give you an educated opinion of what you can get. Plus they can negotiate with many lenders to get you into the best program available.

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Chase Bank Mortgage Interest Rates Move Up Saturday - Finance Daily

Chase Bank Mortgage Interest Rates Move Up Saturday - Finance Daily | Real Estate and Mortgages | Scoop.it
Chase Bank Mortgage Interest Rates Move Up Saturday
Finance Daily
Chase Bank Mortgage Interest Rates Move Up Saturday The benchmark 30 year loan interest rates are available starting at 4.750% at Chase Bank (NYSE:JPM) carrying an APR of 4.826% today.
Maya Swamy's insight:

This is just the beginning but the rising interest rates along with lenders releasing foreclosed homes to the market will likely moderate the increase in home prices.  Could the right time to buy be now?

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Market Now Expecting Fed Taper in September: CNBC Survey

Market Now Expecting Fed Taper in September: CNBC Survey | Real Estate and Mortgages | Scoop.it
Steve Liesman reports on the results of a "flash" CNBC Fed Survey conducted after this morning's stronger than expected June payrolls number.

Via Mark A. Mellor
Maya Swamy's insight:

Mortgages are sold in the bond market, When the Fed Reserve tapers out its bond buying there will be a lower demand for bonds.  Mortgage companies will have to turn to private investors who demand a higher return.  To pay that higher retrund lenders will have to charge higher interest rates. Though interest rates went up the last week they will only be higher after September.  If you want to refinance or buy the time to do it is before the September increase.

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Will the "Man Cave" be replaced by the "Teen Lounge"?

Will the "Man Cave" be replaced by the "Teen Lounge"? | Real Estate and Mortgages | Scoop.it

Via Tom Horn-Real Estate Appraiser
Maya Swamy's insight:

I wonder if this will happen?  It seems like most have fewer children and fewer teenagers now. Besides aren't most teenagers rather like mine were?  Preferring to hang out away form home?

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Tom Horn-Real Estate Appraiser's curator insight, July 5, 2013 11:13 AM

Seems to me it's just a renaming of the recently popular man cave. A recreational area to be used by the kids instead of the man of the house. What do you think?

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Should I go with a 15-year or 30-year fixed mortgage? | LA & OC Mortgage Programs

Should I go with a 15-year or 30-year fixed mortgage? | LA & OC Mortgage Programs | Real Estate and Mortgages | Scoop.it
Should I go with a 15-year or 30-year fixed mortgage? - weighing the options between the two and which works best for your situation.
Maya Swamy's insight:

With a 30 year mortgage you have higher interest rates and pay back a lot more over time.  However you are paying a little less every month. Still with a 15 year mortgage  you will be paying very significanly less money before the home is yours free and clear. If you have the cash the 15 year is generally better for your long term finances.


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