All Blog Entries by The Atlantic Real Estate Team 
There are currently 21 blog entries published by The Atlantic Real Estate Team.
Is It Really Necessary To Utilize A Realtor?
Tuesday, August 31st, 2010 at 6:50pm. 26 Views, 0 Comments.
Of course we are going to answer that question with a yes but also want to detail, based on a number of our professional experiences, exactly why it could be quite costly to you not to employ the right Realtor. The main reason people consider not using a Realtor has to do with the commission fees. While doing the work yourself can save you that cost, buying or selling a home is a major financial and emotional undertaking that involves many intricacies with a number of potential situations you may not have thought of outlined below that can result in a different kind of cost.
Immense Access / Considerable Convenience
Our full-time job is to act as a liaison between buyers and sellers. We have immediate access to all other properties listed by agents…
Mortgage Rates Hit Another All Time Low
Friday, July 30th, 2010 at 3:38pm. 62 Views, 0 Comments.
Mortgage rates are the most affordable they have been in decades.
The national average for a 30-year fixed loan is currently at 4.54%. This latest rate is the lowest for a 30-year fixed loan since Freddie Mac began tracking rates in 1971. It also marks the 5th time in 6 weeks that mortgage companies reported hitting a new average low.
Keep in mind, it is possible to get an even lower rate when a borrower contributes more than 20% toward the down payment or has impeccable credit (sometimes over 720 but preferably over 800). Many times, the best rates available are offered by community banks or credit unions. The reason this is possible is due to the fact that they keep mortgages on their books instead of selling them to investors. Other times, bigger…
Preparing to Successfully Buy A Home
Thursday, June 10th, 2010 at 4:48pm. 106 Views, 0 Comments.
Many times buyers begin looking at homes prior to knowing what they qualify for, what the mortgage payment would be for the home they are interested in, or liquidating the cash necessary for down payment or full payment. A lack of this type of ground work can result in challenges with the home buying process. Financial preparation is essential to being a powerful and successful home buyer.
Preparation is vital even if you will be buying with cash.
Did you know that in order to make a cash offer on a distressed property, the bank will require that a proof of funds letter accompany the offer? A proof of funds letter must generally be on bank letterhead, dated within the past 30 days, state how much money is available to purchase a home, and be signed by a…
Rent or Buy?
Sunday, May 30th, 2010 at 10:01am. 120 Views, 0 Comments.
We have had several recent inquiries from potential homebuyers asking us if this is a good time to buy a home. Or should they just continue to rent until opportunities to buy will be better?
Below are some of the many benefits of owning versus renting:
Home & Condo Sales Results - 1st Quarter 2010
Wednesday, May 12th, 2010 at 2:57pm. 93 Views, 0 Comments.
The Florida Realtors® state association has just released 2010 1st quarter home and condo sales statistics and we wanted to share the news with you.
Sales of existing single-family homes in Florida rose 24% in the first quarter of 2010 compared to the same period a year earlier. A total of 38,846 existing homes sold statewide in Q1 2010. It marks the 7th consecutive quarter that Florida has seen higher existing year-to-year home sales. The statewide existing-home median sales price decreased 5% in Q1 2010 compared to a year earlier. Distressed property sales continue to downwardly distort the median price because they generally sell at a discount relative to traditional homes due to physical condition of home.
Statewide…
How Sellers Price Their Homes
Monday, April 19th, 2010 at 2:53pm. 98 Views, 0 Comments.
We're often asked by our clients, "How much under the listing price should we offer?" This is an excellent question. The answer is complex.
The main reason we emphasize the education phase of looking at homes is because that is the best way for you to know value. When you review and study 40-60 (or more) listings, then drive by 10-20 and look at 5-10, you will recognize the "Hot Listings". You'll also recognize the "Dogs".
Sellers price their homes differently for 4 basic reasons:
1. Ridiculously Overpriced
These sellers have not done their homework to know what the current market is. Sometimes sellers can't list lower due to what they owe on the home. Or, they have listened to a real estate agent…
Home Buyers: Cash in on the Tax Credit
Monday, April 5th, 2010 at 11:37am. 103 Views, 0 Comments.
If you want to take advantage of either the Move-Up/Repeat tax credit or the First Time Home Buyer tax credit, now is the time. Here is information on who qualifies and what to do to get your benefit:
- If you have owned a home for five consecutive years within the past eight, you can get a credit of up to $6,500. First-time home buyers are eligible for up to $8,000.
- You must have a binding written contract in place by April 30, 2010 with a closing date no later than June 30, 2010. You can then decide to exercise one of three options: apply the credit to your 2009 tax return filed on or before April 15, 2010, file an amended 2009 return, or apply the credit on your 2010 return filed on or before April 15, 2011. Just make sure to keep your closing…
FHA to allow Tax Credit at closing
Tuesday, March 16th, 2010 at 11:45am. 64 Views, 0 Comments.
The Federal Housing Administration (FHA) is allowing qualified lenders to offer a short-term loan for first time home buyers in order to access the tax credit at closing. This money can be used to increase total down payment thus decreasing overall loan amount, provide closing cost assistance, or to buy down interest rates. This incentive will help reduce the costs of purchasing your dream home.
There are also other programs like this to help first time buyers get into their home. Simply contact us today to find out more about these programs.
Closing Costs Being Paid by Fannie May
Monday, February 1st, 2010 at 4:00pm. 98 Views, 0 Comments.
Fannie May is the largest provider of domestic residential home funding in the US and is more motivated than ever to move its nearly 50,000 foreclosure properties in inventory. Fannie May has just announced it will begin paying 3.5% in closing costs for buyers of qualified foreclosure properties. That amount can also go toward the the purchase of new appliances for the home. It only applies to HomePath homes and the buyer must close on the house before May 1, 2010.
If this is something you would be interested in, contact us today to find out more about the program and receive a list of qualified foreclosure homes.
Good News! Good Faith Estimate Changes in 2010
Tuesday, January 19th, 2010 at 1:41pm. 80 Views, 0 Comments.
All too often, a buyer has shown up to closing to be suprised by higher closing costs than their lender intially informed them of. Fortunately, effective January 1st, the Department of Housing and Urban Development communicated new rules designed to prevent these last-minute closing surprises that we wanted to share with you.
The requirements of the improved good faith estimate a lender issues includes the following:
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Is It Really Necessary To Utilize A Realtor?
Of course we are going to answer that question with a yes but also want to detail, based on a number of our professio... Read MoreMortgage Rates Hit Another All Time Low
Mortgage rates are the most affordable they have been in decades. The national average for a 30-year fixed loan is c... Read MorePreparing to Successfully Buy A Home
Many times buyers begin looking at homes prior to knowing what they qualify for, what the mortgage payment would be f... Read More