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Understanding the 2010 Good Faith Estimate
If you are buying home than you will see one of these. The new GFE has been expanded to 3 pages and will most likely confuse you. Unfortunately this form does not have payment information or (PITI) however a few simple calculations will get you there. Another change is home owner's insurance. In the past that was one of the last steps before closing but now it should be done up front so it can be added to the form. Don't be shocked if you see a large total for "A+B" as this is may not be the amount you need to bring in to close.
If you would like to review the new GFE visit the link below.
http://www.hud.gov/content/releases/goodfaithestimate.pdf
What does it all mean?
If you don't sell Real Estate on a daily basis you may not know our jargon. Short Sales? REO? FSBO? and Hardship? These are some terms thrown around more and more by the media but the only thing you need to know is we are here to help. One way we can help is by letting you in on a little known Realtor secret. The Elliott Team can get our clients every new listing delivered to your email the first day it hits the marketplace. That means no more spending hours sifting through hundreds of brokerage websites. This will automatically send you EVERY listing from all Realtor brokerage companies. This tool searches and sends you homes that fit YOUR criteria as soon as they hit the market.
All that is needed from you is an email stating you want the great tool. Trevor will then enroll you and you will receive a conformation phone call from our business partner at Countrywide. After that start shopping. Please call or email me to get started. Call me at (503) 602-1039
The Elliott Team's REAL ESTATE UPDATE
Avoiding 7 Costly Mistake of Selling Your Home
Real estate broker and author Sid Davis has identified in his book, "A Survival Guide to Selling a Home," seven costly mistakes that many sellers make when it comes time to put their home on the market. In my business, I've seen each one of these mistakes played out and it just makes me shake my head as to why sellers forge ahead with unwise strategies, instead of listening to the voice of an experienced professional.
Mistake 1:Putting the home on the market before it's ready. Most times this happens because the seller gets impatient or is a procrastinator and has pushed himself up against a moving deadline without getting the pre-sale work done. So it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or they are painting it while it goes on the market. Presentation is everything -- so get the work done before marketing the property.
Click Link below for full article.
