These are all the Blogs posted in October, 2008.
Saturday, October 11, 2008
How to Sink a House With a Boat
Recently a GreatWest GMAC Real Estate professional was lamenting about a couple "For Sale" signs on a home in her community. It had previously been a well kept home, but now appeared more ragged around the edges.
A real estate "For Sale" sign was hanging from the traditional post planted on the front lawn. But a smaller sign hung around the neck (or bow) of "The Unforgiven" - a large boat, moored in the driveway.
Curious about the property, the agent searched the MLS for the listing, while checking price, amenities, condition, and financing terms. It was discovered that th... Read more
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Saturday, October 18, 2008
Factors That Determine Your Credit Score
GreatWest GMAC Real Estate Professionals, are increasingly being asked how to determine whether they are credit worthy with the recent more strict guidelines required to qualify for home loans.
Credit scores range between 200 and 800. Scores above 620 are considered desirable for obtaining a mortgage. Here are 5 factors that decide your credit score.
1. Your payment history. Whether you paid credit card obligations on time.
2. How much you owe. Owing a great deal of money on numerous accounts can indicate that you are overextended.
3. The length of your c... Read more
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Friday, October 24, 2008
The Cyclic World of Housing
The other day, someone asked a real estate professional if they felt sorry about putting people into homes they couldn’t afford.
After being a little dumbfounded for a moment, the agent explained they didn’t think they had placed any buyers in homes, which fit that category. Many of their clients had been professional people, who had purchased nice homes with fairly traditional mortgages, at the height of the market. Some of them had sold other homes, pulling out equity to buy new homes.
Many had seen equity decline in the current market. However, knowing ... Read more
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Friday, October 31, 2008
Open - Open - Open
Fighting your inner demons may be difficult, BUT don’t be afraid to open the envelope.
Recently a GreatWest GMAC Real Estate Professional recalled that she had gone to the home of a client to perform a listing presentation for a possible short sale.
During the presentation and while looking at paperwork the client had, the agent noticed there were several recent envelopes the client had from the mortgage company. Most of the envelopes were not opened.
When the agent asked why they had not opened the envelopes, the client stated they knew they didn’t have ... Read more
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