Home-Buying Myth Busters, Marijuana & Real Estate, Complying with RESPA

"I Need 20% Down" and Other Home-Buying Myths About Mortgages

Think you're not ready to unlock home ownership yet? That the financial hurdles are too high? You may be short-changing yourself. Many of the things renters believe about home-buying are myths.
Here's the real deal.

Uncover these Myths:

  • I Have to Put Down 20%.

  • My Low Credit Score Means I Can't Buy a Home

  • I Can't Afford the Agent's Commission

  • I Can't Afford the Agent's Commission

  • My Bank Will Give Me the Best Mortgage

  • I Was Pre-Approved. I Got The Loan!

  • The Interest Rate Is What Matters Most


R ead more at HouseLogic
The Most Active REO Markets
The top metropolitan statistical areas ( MSAs) where Real Estate Owned (REO) properties were bought and sold during 2017 were in the South, according to a report by a leading online real estate marketing platform.
 
Hubzu completed an analysis that identified the average number of days a listing is on market and the average difference between purchase and sale price. The analysis found the most active buy, renovate and sell markets in 2017 were Huntsville, Ala. (38 percent of REO properties bought and sold within one year); Clarksville, Tenn. (34 percent); Gainesville, Fla. (30 percent); and Pensacola, Fla. (28 percent).
 
“With tight inventory and appreciating home prices affecting real estate market conditions across the country, many people are pursuing fix-and-flip markets as strategic income opportunities,” Hubzu Senior Vice President Patrick G. McClain said in a release. “There is noticeable activity in the southern and midwestern markets, which may be less competitive. As more buyers seek smart investment opportunities, we can anticipate this trend of fix and flipping homes to continue.”
 
Other top REO markets included Lima, Ohio (26 percent); Cincinnati (22 percent); Las Vegas (22 percent); Akron, Ohio (21 percent); and Modesto, Calif. (20 percent). Ohio and California has the most MSAs on the list.
 
According to the report, the top 20 REO MSAs had an average of 70 days listed on the market. Modesto had the smallest average number of days (51) listed on the market, while Huntsville had the largest average number of days (88) listed on the market.
 
The MSAs with the highest average difference between purchase and sale price were Oxnard, Calif. ($117,305); San Diego ($109,973); and York, Pa. ($67,499). The MSAs with the lowest average difference between purchase and sale price were Akron ($2,191); Clarksville ($3,595); and Huntsville ($6,593). 

Article: The Title Report
Marijuana and Real Estate: A Budding Issue

If marijuana is legal for some use in your state, did you know there's a specific marijuana field in your MLS? Or are you among the few NAR members who say they're specialists in this field? Read more about how weed is affecting the industry in NAR's new report


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Have you given or accepted gifts from mortgage lenders, title companies, closing attorneys, or other settlement service providers? If those gifts are in exchange for referrals, then you're breaking the law.

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O ctober came and went so fast! Our staff celebrated Halloween with a pot-luck luncheon.
November’s philanthropy went to helping 

November's philanthropy went to helping donate canned goods for those in need   during this Thanksgiving holiday. Our staff collected for the Lane Family Wellness food drive which benefits the Community Food Pantry in North Tampa. This food pantry will feed over 40,000 people in the Tampa area. We were happy to be a part of this food drive!


“Feeding People. Changing Lives”