Brian's Blog

You Don't Need to Live Close-by to Appraise a Home, Just Know the MarketWednesday, April 16th, 2014

I recently had an appraisal come back for a loan application and it was slightly low. The listing agent complained that the problem was that the appraiser came from a great distance and must not have known the local market. When an appraiser calls to schedule an appraisal inspection the realtor always asks them, "Where are you coming from?" The realtor is trying to surmise if they are local or not, but what is local? (more…)

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What Makes Brian Different?Thursday, April 3rd, 2014

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New Mortgage Rules: Ability to Repay and Qualified MortgagesThursday, March 27th, 2014

As many of you have heard, there are some new regulations that have gone into effect for mortgages as of January 10, 2014. There are two basic components of the regulation, one is the ability to repay and the other is the qualified mortgage. While they seem complicated and onerous, the reality is that not much will change in the way most mortgage lenders do business.

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What Effect Does Home Staging Have? Not Much?Thursday, March 20th, 2014

I always wondered how much value could be attributed to staging a home. I figured that, at least for myself, I could see past someone‚Äôs furniture, taste in decoration, or inability to keep a clean house, and always see the real potential in a home. I figured I knew square footage, bedroom and bathroom count, lot size and view, and never needed the benefit of having a home decorated a certain way for me to see its potential. (more…)

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Closing Cost Credits: Get Seller Credits or Lender Credits?Thursday, March 13th, 2014

I sometimes have clients ask me how they can reduce the amount of cash they need to pay towards the purchase of a new home. Recently a client who was making an offer on a house that had an asking price of $650,000 wanted to make an offer of only $600,000 figuring that since they were putting 20% down, they'd save $10,000 by paying 20% down on $50,000 less in price. However, the house is worth what it is worth, and (more…)

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