As a realtor, my greatest satisfaction is meeting the goals of my clients, either when selling their homes or finding a new one. I’ve learned through hundreds of successful purchase and sale transactions that each client has unique goals, and this explains why it’s so important to me to spend sufficient time “up front” with each client in order to ensure I understand their objectives.
This up front time also gives me the opportunity to familiarize clients with current market conditions, financing options, marketing programs, as well as suggestions to prepare their home for sale in order to ensure the maximum price is obtained.
I’ve always found that it makes good sense that clients have a full and thorough understanding of the price range where their home should sell. This pricing is developed after exhaustive research to identify comparable recent sales within the local market. It’s only after this process, including my recommendation, that the client can best set an asking price for their property.
While setting a sales price is the most important step in the sales process, I’ve found it also essential to stay closely involved in every step of the process including marketing, home inspection, financing and closing activities. Such oversight ensures the sale is completed on a timely basis from signing of the contract to closing.
I’m really excited about joining the team from Pearson Smith Realty , one of the fastest growing and most successful realty firms in Northern Virginia. You can be confident that we will stand with you and protect your interest resulting in a successful outcome.
I look forward to meeting and speaking with you regarding your real estate needs here in Northern Virginia.
P.S. First Time Home Buyers...Ask me about how I can get you assistance with closing cost credits.
There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:
This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.
The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.
As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.
The Urban Institute also publishes a Home Credit Availability Index (HCAI). According to the Institute, the HCAI:
“Measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates … it is easier to get a loan.”
Here is a graph showing their findings:
Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.
It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.
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