Archive for April, 2011

Seller's Beware

April 29th, 2011
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It’s not only Buyer’s who need to Beware in today’s Real Estate Environment

In real estate, everyone has heard of the Latin phrase, Caveat Emptor, meaning Buyer Beware.  Generally, it refers to the fact that when you buy real property you’re buying it in its existing condition so you should carefully check for defects in the actual property and the title before handing over your cash.  Unless the seller, in their statement of condition, lies or covers up a known and pre-existing problem, you may have little recourse after closing. Read the rest of this entry »

It's Never too late…

April 20th, 2011
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“It’s Never too late, in fiction or life, to revise.”-Nancy Thayer

I’m 59.  I prefer to think of myself as ‘experienced’, not old.  I’ve spent a quarter of a century working with 1st time buyers.  About 4 or 5 years ago, I read The Tipping Point by Malcolm Gladwell and realized that I’d have to change a few things to remain relevant to this new generation of 1st Time Buyers. Read the rest of this entry »

"Every Dream Deserves a Fighting Chance"

April 10th, 2011
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According to my mother, I came into the world a fighter. I also came out sunny side up. At the age of six, intent on a grand adventure, I climbed to the top of an old rickety ski jump in Chester Bowl in my hometown of Duluth. There were more boards missing than still attached. My brothers, fearing my imminent demise, ran and got my Dad who begged me to climb back down. I did not understand what all of the fuss was about. The view from up there was terrific and I was having fun. Read the rest of this entry »

What's good about bad news?

April 4th, 2011
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Not to be flip but when bad news hits the headlines, it’s usually pretty good news for mortgage interest rates.  CNN has this little ticker you can watch on their Money page.  It shows interest rates with an arrow that goes up or down depending what’s on their world news page. Read the rest of this entry »

Overturning a Low Appraisal may require putting your Sherlock Holmes hat on…

April 4th, 2011
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My husband has a nickname for me: Kate loves a Mystery

It happens.  Your buyers have mentally moved in and your sellers have packed and are ready to move on. Then, WHAM! everything comes to a screeching halt when the appraisal comes in low.  For years we took for granted that the appraisal would always come in at the price the buyer was willing to pay for the house. It seems reasonable that a willing buyer and a willing seller who have come to a meeting of the minds over price ought to be the best judge of value. With the advent of The Home Valuation Code of Conduct and the rules in the code now made law, many lenders, sellers and buyers simply give up or give in because they don’t know how to overturn a low appraisal.  As frustrating as the process is, it is possible to turn things around.  Time to get your Sherlock Hat out and think like a detective. Read the rest of this entry »