2.785% For 30 YR FHA Fixed Loan! Unbelievable!

I saw a couple of posts on Facebook today saying that interest rates for a fixed 30 year FHA mortgage hit 2.785%.  This is so unbelievable that I didn't believe it until I made a few phone calls to confirm it.

For months, I've been bragging about my 3.25% mortgage and I needed to do a 10 year mortgage to get this rate.  Today's deal blows that out of the water.

So my friends, if you're on the

The Kiss of 'Real Estate' Death

The house has been just sitting on the market.  No one has come to see it in weeks.  It's time to make a price adjustment and so I
begin that dreadful conversation with the sellers.



"Well, we are not in a big hurry to sell.  We are willing to wait for our price,"
they tell me.




 UGH!!!!  GROAN!   And a few other words that I don't dare
publish.




More than ever before, buyers are

$5,000 Over Asking Is Not Enough!!!

I like it where I live and apparently so do some other people. Last weekend I wrote an offer for $5000 over asking and I’m sorry to say the house went to another bidder! Why did we offer so much? Well, we lost a house the week before by writing only a thousand over asking. That’s pretty amazing considering there are parts of the Rochester area where houses sit on the market for weeks and months,

How Disappointed Will You Be If You Lose This House?

No one will sell you a house for less than what you offer, right? So why not start very, very low with the first offer?




Sometimes it works. I’ve had very low offers accepted without a single counter. Almost always it’s because the house has been on the market for a while and the seller is simply sick and tired of the process.



More often, it doesn’t work. My most notable transaction was

Low Ball Offer

My clients cleaned and painted and staged. Finally, we put a ‘for sale’ sign in the front yard. For weeks, they walked on egg-shells trying to keep the house ready to show at a moment’s notice. And finally we got the call! An offer was coming in. As soon as I picked up the offer, I knew my clients would not be happy. It was $30,000 off asking and this was not an expensive house. What I didn’t

Getting Ready to List Your House

Right now, I'm getting more phone calls from people wanting to sell their home than individuals that want to buy a home. That's a change and I think it's been brought on by the federal tax credit for repeat buyers that have owned their current resident for at least 5 years. Of course, there are a million things to do to get your house ready for the market....cleaning, organizing, de-cluttering

A Few Thoughts About Seller Concessions

It seems like the topic of seller concessions keep coming up during the negotiation processes. Often, we will be receiving a counter offer from the seller when my buyer calls me up. “My dad says the seller should be paying my closing costs!”




FHA and VA mortgages allow for a seller to pay the buyer’s closing costs up to an amount equal to six percent of the purchase price. For most

Ready to Write An Offer - 8 Big Questions To Answer

I've been working with a first-time home buyer for a couple of weeks now. We've been out 3 or 4 times to look at property and yesterday we went back to look at one a second time. He's really thinking that this might be the one.Choosing which property to purchase is a big decision. BUT, it is only ONE of many important decisions that come with buying a property. That is why I like to begin

My Buyer Was Offended!

I recently submitted an offer on behalf of a client for a vacation home on the Finger Lakes. In response, the seller countered our offer with a request for a letter from the bank that proved they didn't have to sell their existing home to qualify for the mortgage."I am so offended!" exclaimed my clients. "Why would we look at property we couldn't afford?"When you are buying property, it pays to