Credit Score Overhaul to Affect Mortgage Outlook

For any town resident who has ever been stymied by seemingly arbitrary (or, put another way, nutty) lowering of his or her all-important credit score, next month’s beginning rollout of Fair Isaac’s new credit score model should be welcome news. It will be known as “FICO 9”—and promises to correct a few of the previous …

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First Time Buyers Look to Tap Alternate Funding Avenues

In an improving residential real estate market, first time buyers may flinch at the greater loan amounts that accompany larger price tags. Lending standards have also put some first time buyers through a tougher gauntlet than faced during many previous eras. Although some easing is now beginning to take place, some local first time buyers …

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Using an iPhone to Create a Virtual Tour

A newly-updated NAR survey confirms that 51% of agents with smartphones use iPhones. This fact is hardly startling, since these phones have been such a boon to the real estate business. Today’s agent can use apps to quickly scan and electronically sign documents, instantly get property details for clients, access key boxes—it’s almost hard to …

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Foreclosed Home Market Echoes National Trend

If you’ve been following foreclosure news, you already suspect that cashing in on foreclosed home opportunities in town must be getting more difficult. According to CoreLogic’s Insights report at the end of last month, foreclosure inventory across the nation had dropped 35% from a year earlier. Whenever the number of available bank-owned homes shrinks, the …

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Choose a New Home That Addresses Tomorrow’s Needs

“At the end of the day…” “The bottom line…” “When all is said and done…”
The final verdict on whether any activity is ultimately deemed a triumph comes down to how successfully it addresses future circumstances. It’s especially relevant when you find yourself at the outset of searching for a new home.
That’s not always as easy …

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Property Type Sets the Stage for Marketing Message

If you are preparing to sell your property in town this fall, it’s worth considering what the marketing angle will be: how to characterize it most accurately—and appealingly. It starts with the choice of wording for your home’s property type, which will set up prospective buyers’ expectations before they come upon the more detailed description. …

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Rental Homes Sometimes Do Well to Welcome Pets

Owning rental homes in town may be a profitable venture, but sometimes the image of a landlord could use a little public relations boost. For instance, the cartoon version of a landlord is the opposite of pet-friendly. Lassie or Puff? Fuhgeddaboudit!
That parody landlord attitude might once have been pretty much on target—even in rental homes …

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When Investing in Real Estate, Stick to Your Strategy

If you have been doing groundwork with an eye toward investing in area real estate, chances are you’ve also been watching some new national movement in housing sales. Last month’s Real Trends Housing Market Report showed U.S. sales of 5,880,000 units (a 5.1% increase over June 2013 numbers): “a substantial improvement over the five prior …

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Should You Use a Real Estate Agent to Sell Your Home?

Even though nearly 9 out of 10 homeowners ultimately enlist a real estate agent to sell their properties, let’s face it: the thought of going it alone does go through many minds. And surveys confirm the primary motivation, which is, of course, saving the agent’s fee. Pocketing that cash would add that much more to …

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Rental Owners Stay Organized to Maximize Tax Edge

As a homeowner in town, you are pleasantly reminded each April 15th that the interest portion of your mortgage payments is 100% tax deductible. When you own rental property, though, the tax implications are considerably different. You need to report rental payments you receive from your tenants as income—but you’ll also be able to write …

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