Real Estate Information

REALTOR Completes Certification Course - Certified Staging Consultant

Friday, September 14, 2007

by Mark Borst

FOR IMMEDIATE RELEASE

Mark Borst (219) 488.0299

REALTOR Completes Certification Course

Mark Borst from Tri Town Group of Keller Williams Realty Leaders was recently recognized as a Certified Staging Consultant (CSC) by the Mainstreet Organization of REALTORS. This certification is currently held by fewer than 300 agents in the state of Illinois.

This certification educates students in recognizing other attractive alternatives to reach a SALE for their clientele, both the seller and/or buyer! It teaches them how to incorporate an array of staging services into their client service portfolio. From personally consulting the seller how to “de-clutter” the home or, if all fails, incorporating a variety of professional staging services to assist.

Mark’s services are open to anyone interested! If you can’t seem to sell your home and are interested in service by a Professional who has been coached to find strategic options to lessen market-time, then give Mark a call or email.

Mark Borst from Tri Town Group of Keller Williams Realty Leaders can be reached at (219) 488.0299 or at info@TriTownGroup.com

Clients need the hard facts about the mortgage market

Tuesday, September 11, 2007

by Mark Borst

The current upheaval in the market has given rise to significant opportunities to help your clients make informed decisions. Tom Sherman, President of Mortgage Services Unlimited in Dallas, emphasizes the importance of educating clients.

For your sellers, the following points are key:

Home values will stay stagnant or potentially decrease.
Qualified borrowers are looking for deals.
Fewer borrowers are qualifying for home loans.
Rising foreclosures tend to negatively affect home values.
Increased “days on the market” (DOMs) increases the likelihood that buyers will aggressively negotiate prices down.
Continued stress in the financial markets will affect consumer confidence.
Loans may take longer to close.
Appraisals are becoming more difficult to obtain.
Properties should be funded before contract contingencies are removed.

It’s critical to encourage sellers to price homes to sell -- and sell quickly -- decreasing the need for price reductions.

Sherman notes that buyers also need to be armed with specific tips on how to navigate most effectively in the current market:

Make decisions to buy sooner than later — loan guidelines are changing so quickly that an approval today may not be an approval in the future.
Diligently protect your credit.
Make sure that lenders are placing loans with financial institutions that can close on them.
If someone is saying that something that is too good to be true, it probably is!
A down payment on a property not only strengthens the case — it may be a necessity in the very near future.
Fly-by-night lenders will say anything to get the deal. Verify anything being offered through a reputable lender.
Rate locks and product locks can be subject to change when a market is shifting.
Loans take much longer to close in the current market.
Pre-approval is critical.

This uncertain market provides a huge and unique opportunity for skilled agents to educate clients, gain their confidence and loyalty and build lasting relationships.

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New FHA Quidelines For Familes Facing Foreclosure

Friday, September 07, 2007

by Mark Borst

The “FHA Secure” program is intended to help those who are having trouble because of the interest rate reset on their current loan. No minimum FICO score is required and the following guidelines apply. To participate, the borrowers must:

Have 3% equity in their home.This also holds true when any late payments are refinanced into the new loan.
Have a good payment history for the 6 months prior to the mortgage reset that precipitated the delinquency
Demonstrate the ability to repay the loan, and
Have a new appraisal

President Bush also challenged HUD and the Treasury to identify those homeowners who are in danger of defaulting and to work with Fannie Mae, Freddie Mac and private lenders to be flexible in providing loans intended to help these families avoid foreclosure.Currently, the tax code allows the amount of a mortgage forgiven by the lender in a renegotiation to be taxed as income. Obviously, this does nothing to help already financially stressed families and President Bush has called on Congress to change this IRS provision.

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The Regions Real Estate Market

Thursday, August 30, 2007

by Mark Borst

Lake County Real Estate Market is Still healthy. In the Second quarter on 2007 Lake County saw an increase of 3.8% in home values of the same period one year prior. But less people are out buying homes, only 1723 homes SOLD in the 2nd quarter of 2007 compared to 2020 in the 2nd quarter in 2006.

This is the reason why your agent really matters. A top notch Real Estate agent will help you stage your home ( get it ready to sell ), price your home ( compared to other similar homes in your neighborhood ), market your home (to the group of people most likely to purchase your home ).

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