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Archive for the ‘Affordability’ Category

Five Reasons To Buy A House In Atlanta Now

posted by Stephen Katz
Wednesday, November 29, 2017

Are you considering buying a house in Atlanta? Read on to find out why we think you should buy now!

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Six Reasons To Buy A House In The Fall

posted by Stephen Katz
Wednesday, October 25, 2017

The end of summer typically means fewer “for sale” signs. However, whether you’re a buyer or a seller, don’t fret. This can be great news for the following six reasons:

 

 

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The share of current renters who believe that now is a good time to buy has jumped to 62 percent. That’s a two percent increase from this time last year and a 10 percent increase from last quarter.

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Can You Really Trust Zestimates?

posted by Stephen Katz
Wednesday, September 20, 2017

Today we are talking about a topic we get a lot of questions about: Zestimates. Zestimates are Zillow’s automated home value system that will tell you what your home could sell for in the market. Is this the best way to determine value, and should you trust it? The answer is maybe, but it might not be a good idea.

Zillow themselves have disclosed that their Zestimates can be anywhere from 5-15% inaccurate. They use a basic algorithm to determine value that takes into account square footage, bedrooms, and bathrooms, but not much else. They also use sales data from their site, but that is often inaccurate as well. 

So please don’t look at your Zestimate as the exact figure your home will sell for. To truly determine your home’s market value, you need to hire an agent who has boots on the ground and understands what buyers are looking for.

There are a lot of things that go into determining your value that aren’t calculated in Zillow’s algorithm. Things like absorption rates, inventory, and interest rates can all change from one price range to the next. 

With that being said, there are a lot of agents out there that don’t have a ton of experience. It’s easy to get your real estate license, but it’s much more difficult to get to the point where you have the experience needed to accurately assess the value of the home. Agents should do a pre-appraisal to get yet another valuation for your home. 

So, be careful on Zillow, and don’t make your decisions based on that valuation. If you have any questions for us or are looking to buy or sell, give us a call or send us an email today!

Are you a first time home buyer? Are you trying to determine your budget? We (lenders) are more than happy to help you find your answer(s), but here are some tips to get you started:

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Home Purchase Process For First Time Buyers

posted by Stephen Katz
Thursday, July 13, 2017

Are you looking to buy your first home? Well look no further, because I’m here to walk you through the entire process!

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Are you a renter who is looking to purchase a home of your own? If so, you’ve come to the right place!

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What Are Loan Officers Asked Most Often?

posted by Stephen Katz
Wednesday, June 28, 2017

 

The number one question that we get asked every day from potential clients is, “What is your current interest rate?”

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Have you ever been rejected for a mortgage due to your debt-to-income ratio? Or know someone who has? Well good news: starting July 29, Fannie Mae is raising the DTI ceiling to 50 percent! Currently, it sits at 45 percent.

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Today we are going to discuss whether it is better to pay the closing costs in cash upfront or to take out a higher home loan. The difference could cost you thousands.

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