A credit score is the statistical prediction of one’s likelihood to pay late over the next two years. The higher the score, the less likely one is to have a late payment. The bank then uses this number to assess the amount of risk involved with lending someone money. Banks are a lot like a [...]

I am often asked what the impact of a short sale or foreclosure is on a credit score. Unfortunately, there is no straight-forward answer. This is such a difficult question to answer simply because it depends on a variety of factors. In general, a short sale or foreclosure will affect your credit score 85-160 points. [...]

The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In many cases, buyers and sellers don’t need to attend a specific event; signed paperwork can be sent to the closing agent via overnight or electronic delivery.   What to expect Settlement is [...]

You’ve done it. You’ve looked at properties, made an offer, obtained financing and gone to closing. The home is yours. Is there any more to the home buying process? Whether you’re a first-time buyer or a repeat buyer, there are several more steps you’ll want to take. Those papers you received at settlement are extremely [...]

Because financing is so important, buyers should have as much information as possible regarding mortgage options and costs. We have been working with buyers for many years and with years of experience come extensive mortgage information as well.   What kind of loan? There are thousands of loans available out there from a variety of [...]

No one would drive a car without insurance, so it figures that no homeowner should be without insurance. The essential idea behind various forms of real estate insurance is to protect owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime. What kind and how much? There [...]

While much attention is spent on price, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value for buyers — or additional costs. Terms are extremely important and should be carefully reviewed. How much? You sometimes hear that the amount of your offer [...]

There’s no doubt that choosing a home is a big decision and you want to do it right. As a buyer, here’s what actually happens. A home has been placed on the market for which the seller has established an asking price as well as other terms. In effect, this is an offer. At this [...]

This is an exciting time. Millions of new and existing homes are sold each year. There’s no shortage of housing options, but with so many choices the challenge becomes finding the property which best meets your needs. The housing market is complicated because the stock of homes for sale is always in flux. Buyers are [...]

You might be if you: 1. Are familiar with the market? If you’ve been paying attention to how much houses are listed for in the neighborhoods you’re eying and have a realistic view of how much a house will cost you, you’re in good shape. But if you’re dreaming about that big corner house with [...]