Pending Home Sales Reverse Course in February, Rise 3.1 Percent

WASHINGTON (March 28, 2018) — Pending home sales snapped back in much of the country in February, but weakening affordability and not enough inventory on the market restricted overall activity compared to a year ago, according to the National Association of Realtors®.

The Pending Home Sales Index,* www.nar.realtor/pending-home-sales, a forward-looking indicator based on contract signings, grew 3.1 percent to 107.5 in February from a downwardly revised 104.3 in January. Even with last month’s increase in activity, the index is 4.1 percent below a year ago.

This exerpt from The National Association of Realtors. Click HERE to read more.

4 Ways to Prepare for a Competitive Spring Home-Buying Season

Suburban Spring

(TNS)—With housing inventory far lower than demand and mortgage rates poised to rise, it’s going to be a competitive market for homebuyers this spring.

If you’re looking to buy a home this season, here’s how to prepare yourself to enter the fray. 

Get your financial house in order.
Unless you plan on paying for the house in cash, you’ll need to apply for a mortgage. No matter how streamlined the process is, you’ll still need to gather a significant amount of documentation to give an accurate financial picture to the lender.

Thisexcerpt from RIS Media. Please CLICK HERE to read more.

6 Things You Must Do Before Buying a Home

(TNS)—Buying a home is a huge investment—probably the most significant purchase of your life. It’s not something you should do without preparation.

Before you start on the road to homeownership, make sure you are ready.

Improve your credit score.
A high credit score snags you the best deals. “Below 660 or 680, you’re either going to have to pay sizable fees or a higher down payment,” says Barry Zigas, director of Housing Policy for the Consumer Federation of America.

This excerpt from RIS Media, please CLICK HERE to read more.

Getting Ready To Move

Congratulations on the purchase of your new home! Now, for the next challenge: moving. This is a great time to carefully weed through your possessions and to dispose of any clothes, furniture and fixtures that you no longer want or need. Donate them to a charity, hold a garage sale – but if you don’t want them any more, don’t move them.

Are you going to pack yourself or hire professionals? If you’re doing your own packing, following is a list of materials you’ll need. Moving companies and overnight mail businesses can furnish these, as well as specialized items including wardrobe boxes for clothing and heavy-duty boxes for china and other breakables. Liquor and computer stores also are good sources for sturdy boxes.

You should start collecting the following materials:

  • Boxes of all sizes
  • Plastic bags
  • Non-shredded newspapers
  • Packing tape
  • Markers
  • Bubble wrap
  • Tissues paper

This excerpt from stacyschnell.com please click for more information. 

Stacy Schnell ~ BHHS Fox & Roach Realtors & The Scott Sheppard Team

How to get your home ready to sell

Prepping and staging a house. Every seller wants their home to sell fast and bring top dollar. Does that sound good to you? Well, it’s not luck that makes that happen. It’s careful planning and knowing how to professionally spruce up your home that will send home buyers scurrying for their checkbooks. Here is how to prep a house and turn it into an irresistible and marketable home.

This excerpt from the balance.com

Please click here to read more. 

Four NJ real estate pros arrested in $5 million fraud case

Four New Jersey housing industry professionals were arrested in New Jersey last week for perpetrating a $5 million mortgage scam.

Real estate investor Victor Santos, builder Arsenio Santos, real estate settlement attorney Fausto Simoes, and mortgage loan officer Raquel Casalinho were charged with conspiracy to commit bank fraud. According to the Department of Justice, between September of 2007 and November of 2008, the four co-conspirators and others fraudulently obtained mortgage loans with a total value of more than $5 million.

This excerpt from Mortgage Professional America.

PLEASE CLICK HERE TO READ MORE