Follow these tips to improve your odds of getting a mortgage application approved:
•Do not quit or change jobs.
•Do not make any large purchases.
•Do not have your credit pulled.
•Do not deposit large sums of money.
•Do not open, close or transfer asset accounts.
•Do not increase your credit balances.
•Do not stop making payments on anything.
•Do not start a home improvement project that would require a loan.
•Do not co-sign a loan for anyone.
•Do not fudge on any of the facts on your loan application.
Productivity is about managing your priorities and time. The skills and habits needed to be productive can be learned with dedication and effort.
Here are some tips to start you on a road to being more productive:
Know what’s important – Learn to tell the difference between important tasks and ones that just keep you busy. Spend the most time on the ones that are important.
Plan your day – Take some time at the end of the previous day or at the beginning of the day to plan what you want to get accomplished that day. A handy tool might be creating a to-do list each day, and refer to it often. This will help to keep you on track and focused.
Know your priorities – It’s not about just getting things done, you want to get the right things done. Learn to delegate tasks that others can do for you. This will free you up to work on higher priority items. Also learn to say no. Protect your time, energy and focus.
Solve problems – Take the responsibility for solving problems both at work and home. Once things are resolved it will relieve you of some undue stress and free-up your mind for more productive activities.
Here’s what a recent survey revealed about the differences between younger and older home buyers:
•Typically bought homes built around 1986
•Bought a home within 10 miles of previous residence
•More likely to purchase in urban or central city
•Bought because they desire to own their own home
•Chose neighborhood for convenience to jobs, better affordability and quality schools
•Made more concessions regarding home purchase
•Found the home they purchased through the internet
•Typically Bought homes built around 1996
•Moved longer distances, more than 20 miles
•More likely to move out of state or region
•Bought a home to be closer to family and friends
•Chose neighborhood for health care facilities and to be closer to family and friends
•Generally did not make any concessions on their home purchase
•Learned about the home they purchased through their real estate agent
Making improvements to your home’s landscaping will enhance its marketability and increase the value. Stand in the road and take an objective look at your home so that you can develop a plan for improvements. Below you will find some helpful tips:
Remove any items from your yard that look out of place, such as, bikes, balls, unused lawn furniture, trash cans and the like.
Take a look at your lawn. How does it look? Is it well groomed and green? A great looking yard is the key to increasing your curb appeal. Don’t cut your yard too high. Most yards do best when cut at a height of at least three inches. If your yard is in poor shape it may need to some seeding and fertilizing.
How do your planting look? Do you have the right balance? Are they too large for the space? If so; you may want to remove them and start over. Do you have enough color? If not; set out some flowers that are appropriate for the time of year. If trees are overgrown and hiding the house, then give them a good trimming or have them removed altogether.
Figure out what is the focal point of your yard, and work extra hard to make this area stand out
Are you considering a career in real estate or a firm change?
If so; visit www.TopofKnox.com to learn more.
Price – This is probably the most important element of the six items listed. A property needs to be properly priced to attract buyers in the first place. Pricing a home too high will most often lead to a lower sales price and longer market time than if priced right in the beginning.
Property Condition – Properties that are in tip top shape will usually sell much quicker than a property that’s in disrepair or needing updating. Properties that are in substandard condition will often draw low ball offers from investors and those folks looking for fixer uppers. Additionally a property that’s not up to certain minimum standards will not be considered for government backed loan programs, which significantly reduces the pool of available buyers if your limited to cash or conventional buyers.
Terms – This item rates high on the list of elements because if a buyer is unable to locate the needed financing, then they will not be in a position to purchase your property in the first place. If interest rates are at an attractive level and lending standards are reasonable, then terms should not be an issue. If you have a hard to sell property, then you might consider offering seller financing. This would open up your property to those buyers that are unable to secure traditional financing.
Agent Marketing – Selecting an agent and firm that has your best interest in mind is most important. You want someone that will provide you the necessary information, so that you can make informed decisions throughout the process of buying and selling. Visit www.KnoxSold.com to find out more about agent marketing.
Market Conditions – This is one of the elements that you have little to no control over. Market conditions will determine a property’s value at any given time based upon the law of supply and demand. The market is ever changing as the supply of available properties for sale rises and falls. Values will rise as the supply of available properties dwindles, and values will fall if the supply of properties exceeds buyer demands.
Property Location – Location greatly affects the value of a property. Property values are mostly influenced by neighboring property values. Usually you will find like valued properties in company with with one another. When pricing property you will usually need to be priced in relationship to other properties in the immediate area.
All real estate licenses are not the same. Only real estate licenses who are members of the National Association of REALTORS® are properly called REALTORS®. They proudly display the REALTOR “®” logo on their business cards or other marketing and sales literature. REALTORS® are committed to treat all parties to a transaction honestly. REALTORS® subscribe to a strict code of ethics and are expected to maintain a higher level of knowledge of the process of buying and selling real estate.
Here are some reasons why you should consider using a REALTOR®:
1. Your REALTOR® can help you determine your buying power.
2. Your REALTOR® has many resources to assist you in your home search.
3. Your REALTOR® can assist you in the selection process by providing objective information about each property. Agents who are REALTORS® have access to a variety of informational resources.
4. Your REALTOR® can help you negotiate. There are a number of negotiating factors, including but not limited to price, financing, terms, date of possession and often the inclusion or exclusion of repairs.
5. Your REALTOR® provides due diligence during the evaluation of the property.
6. Your REALTOR® can help you in understanding the different financing options and identifying qualified lenders.
When buying or selling real estate, look for an agent who proudly displays the REALTOR “®” logo.
Turns out the best day of the week to list your house is on a Friday. Homes listed on Fridays tend to bring the seller a higher percent of their asking price than on any other day of the week, according to research done by the real estate brokerage Redfin. Homes listed on Fridays usually sell the quickest as well. The majority of the property showings occur Friday through Sunday, so it makes perfectly good sense that Fridays would rate high.
Another good day to list your home is on a Tuesday. Tuesdays generate the most interest for home tours. Tuesday is often a big planning day for many people as they make plans for properties to view over the upcoming weekend.
Wondering what’s the worst day of the week is to list a house? Well; it’s on Sunday.
You can sign the listing paperwork with your REALTOR® on any day of the week, but ask your REALTOR® to time the marketing of your home so that you get maximum exposure. You only get one chance to make a good first impression, so why not make the best of it.
1. Make large undocumented bank deposits
2. Fail to disclose you are on probation, disability or maternity leave with your employer
3. Close credit accounts with a zero balance
4. Co-sign a loan for anyone else
5. Change your job status from full to part time
6. Spend your down payment or closing cost money
7. Apply for new loans or credit
8. Stop paying your bills on time
9. Get married or divorced
10. Quit your job
The REALTORS®’ Code of Ethics was established in 1913 by the National Association of REALTORS®. It’s a set of rules that were established to raise the standards of professionalism and service in the real estate industry. The rules are divided into three areas: 1) a broker’s duties to his clients, 2) a broker’s duties to his fellow brokers and 3) a broker’s duties to the public. The current Code of Ethics contains seventeen articles.
Over its one hundred year history, the Code of Ethics has been amended and revised to keep up with the changing times. Local REALTOR® Associations are charged with enforcing the Code of Ethics and handing down punishment to those found to be in violation of one or more of the articles.
To keep REALTORS® up to date on the Code of Ethics, the National Association of REALTORS® requires all REALTORS® to take a training course on the subject every four years.
In recognition and appreciation of their obligations to clients, customers, the public, and each other, REALTORS® continuously strive to become and remain informed on issues affecting real estate and, as knowledgeable professionals, they willingly share the fruit of their experience and study with others.
Source: National Association of REALTORS®