Category: Home Buying

The Fed Raises Rates – So Now What?

As expected, the Federal Reserve raised short-term rates today. This is the first such increase they’ve made in a year, and the second in a decade. So what’s it mean for real estate mortgages? The Federal Reserve is the bank of the United States – they regulate monetary policy, and they provide stability within the central banking system. And while an increase in short-term rates might seem to be a bad thing, it’s actually an indication that the Fed sees the US economy in positive terms, and is bringing interest rates up to better mirror inflation. While it’s true that mortgage …

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What Does A Trump Presidency Mean For Mortgage Rates?

Tap tap tap. Is this thing on? It’s been a long time since I blogged with any regularity at all, but today seemed an appropriate day to dust things off and get back into the saddle. I was speaking to a group yesterday and was asked about the blog, where I was reminded that it had been far too long since I had done this blogging thing. So … let’s get back to this, shall we? Now’s as good a time as any. There was a relatively significant event in the United States yesterday, one in which hundreds of millions of …

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What’s the Blacksburg Real Estate Market Doing?

Since January 1, it seems, real estate agents in Blacksburg seem to have been saying – to each other, to their clients, to anyone – what IS going on in the Blacksburg real estate market? Historically we follow a traditional bell curve, borrowing at simple loans for good financing and with more properties starting to come on the market in Mach, climbing to a high around May/June/July, and then falling to yearly lows in November and December … only to do it all again the following year. That’s what it’s USUALLY like. But 2016 hasn’t been usual, it seems, so this …

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Rocket Mortgage, from Quicken

If you watched the Super Bowl Super Bowl commercials, you might have seen an ad for Rocket Mortgage, Quicken’s new loan product that promises a mortgage loan from onqfinancial.com with just a click of a button. Is getting a home loan really that simple? Our clients can spend days or weeks compiling all of the necessary documents a lender will need just go get a preapproval – then you have the appraisal that needs to be done, the loan needs to get funded, and new guidelines established in 2015 mean that everything has to be prepared and off to the …

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Home Buying and Heavy Rain – A Perfect Marriage

This has become a bit of an evergreen post for the blog, one I keep going back to again and again, but it’s held up well over the last nearly five years, and it’s accurate for a day like today – where it’s rained, non-stop, in the New River Valley, all day. On days like today, when the temps have dropped and the rain continues to fall, all you want to do is … well, nothing. But seeing houses on a today like today can, in many cases, answer that most important of questions – “does this basement get wet?” …

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Buying A Home? Here’s What The Process Looks Like.

Last night, I had new clients in the office, and we were talking about the process of buying their first home might look like. They had done some research on the internet, but as with anything on the web, there was a lot of misinformation to wade through, as well. We were joking that I needed a video of the process, and lo and behold I happen to have one of those! I wanted to explain whether you should be too worried about the pricing and details, orsilly stuffs like if they have the best shower head in the bathroom! Cheesy …

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Should I Sell My Home As A “Pocket Listing”?

A client of mine is always on the lookout for properties for sale. Although she is not ready to buy yet, she likes to see what options are out there for her, and she’s always checking out the available inventory. Recently she was driving through a very desirable neighborhood and saw a higher-end home for sale. Curious, she checked the local listings on Realtor.com, Zillow.com, and the website of the Realtor advertised as the listing agent but did not see the listing. After several days of looking, she contacted me and asked about why a Realtor would not list a …

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Rain and The Art Of Home Buying

It’s pouring in the New River Valley today, just a long, steady rain. The ground is soaked, there’s pooling water everywhere, and by 8am I’d already received a text from a client from my RoofTopServices.com business asking who to call regarding a roof leak at the home they purchased earlier in the year, before you buy a house you should check out roof inspection checklist so that you won’t face a similar problem. It’s the kind of day you just want to curl up and Netflix-binge. Except today is the perfect day to see a house. Given the circumstances, it seemed …

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Why I Want To Work With Vendors I Know

Local. It’s all the rage these days – local food, local business, local anesthesia. Okay, so that last one doesn’t apply, but you get the point. Heck – even Blacksburg has gotten into the act.Looking through the lens of supporting local business, or eating locally grown food, it’s easy to see why local is important. But when I recommend wanting my clients to work with local vendors – folks like home inspectors, or lenders – I’m not doing so because it’s the catchy thing to do. I’m doing so because it matters to getting things done. An example: Recently, we …

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