Archive for the ‘Uncategorized’ Category
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Foreclosure Solution: The Assumable Mortgage
So, what IS an “assumable mortgage”? An “assumable mortgage” is exactly what it sounds like; it is when a buyer agrees to take over the payments from the seller on the seller’s existing mortgage. Sounds simple enough, right? And, it is. Many people don’t know this, but, mortgage assumptions were quite common during the 40± [...]
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The Retail Cannibals
In many high population communities there are retail shopping centers on virtually every corner. Such is the case in the greater Phoenix area, for example, where the major roads are laid out in a 1 square mile perimeter grid pattern, there is typically at least 1 (but, more commonly 2) retail community strip center on [...]
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Residential Sales Market Like An Old Joke (But, not funny)
Back in the late 1970′s during the (disastrous) Carter administration, the residential real estate brokerage business was like a bad roller coaster ride, only with very few small ups and many serious declines. Anyway, during the depths of that (not so) “great” recession, interest rates were in the 16-18% range, and sales were very few [...]
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FHA Should Rescind the 90-Day Seasoning Rule
To bring everyone up to speed, the Federal Housing Administration (FHA) was created as an independent federal agency in 1934 to promote mortgage lending by providing insurance to banks for a portion of the loan. FHA was created to reduce the risk of loss by banks during the Great Depression. You should understand, that the [...]
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Why Agents Should NEVER Make Referrals
Everyone’s got a story about a real estate agent who referred their buyer or seller to either a mortgage rep, a lawyer, a title company, a home inspector, and so on and so on. But, what most agents don’t understand, is that when they make a referral, they place themselves at additional risk of legal [...]
