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Homeowners should have 1% of the purchase price of their home in savings for improvements and surprise expenses, he says. "That is the absolute minimum. It's better to have 2% to 3%... Read More

Loan modification involves adjusting your interest rate, the length of the loan or other factors until it's an affordable monthly payment.

"There are as many as 5 million homeowners who are struggling with their payments, who... Read More

Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here’s why it pays to work with a REALTOR®. 

1. Navigate a complicated process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multipage settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. 

2. Information and opinions. REALTORS® can provide local community information on utilities, zoning, schools, and more. They’ll also be able to provide objective information about each property. A professional will be able to help you answer these two important questions: Will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?

3. Help finding the best property out there. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by your REALTOR® to find all available properties. 

4. Negotiating skills. There are many negotiating factors, including but not limited to price, financing, terms, date of possession, and inclusion or exclusion of repairs, furnishings, or equipment. In addition, the purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. Your agent can advise you as to which investigations and inspections are recommended or required.

5.  Property marketing power. Real estate doesn’t sell due to advertising alone. In fact, a large share of real estate sales comes as the result of a practitioner’s contacts through previous clients, referrals, friends, and family. When a property is marketed with the help of a REALTOR®, you do not have to allow strangers into your home. Your REALTOR® will generally prescreen and accompany qualified prospects through your property. 

6. Someone who speaks the language. If you don’t know a CMA from a PUD, you can understand why it’s important to work with a professional who is immersed in the industry and knows the real estate language.

7. Experience. Most people buy and sell only a few homes in a lifetime, usually with quite a few years in between each purchase. Even if you have done it before, laws and regulations change. REALTORS®, on the other hand, handle hundreds of real estate transactions over the course of their career. Having an expert on your side is critical.  

8. Objective voice. A home often symbolizes family, rest, and security — it’s not just four walls and a roof. Because of this, homebuying and selling can be an emotional undertaking. And for most people, a home is the biggest purchase they’ll every make. Having a concerned, but objective, third party helps you stay focused on both the emotional and financial issues most important to you.

Denny Grimes & Company

Matt Gierden (REALTOR)

http://www.leecountyswfloridahomes.com

Home buyers are trending towards more compact, smaller homes smaller new homes are turning into a bright spot for some home builders. The reason given for this is that most customers are first-time home buyers and this is what they can afford.

Home builders are offering smaller designs with features such as high ceilings and large windows that create a spacious feel and... Read More

In 2009 it was expected that short sales would become easier but it hasn’t happened yet. Investors and lenders who hold liens on second mortgages and home equity lines of credit have been fighting over larger proceeds from the short sales.

In late October the Treasury Department has officially adopted guidelines to navigate these complex issues by including suggestions... Read More

1. Credit requirements for loans are still very tight, with unemployment rates still high, and banks are tightening up on lending standards for all... Read More

About 25 percent of borrowers helped under the administration's massive foreclosure prevention plan, known as Making Home Affordable, have already fallen behind on their new mortgage payments. This raises new questions about the effectiveness of the program.

New pressure is being put on lenders to do more to move struggling homeowners into loans with easier terms.

So far,... Read More

Any home seller with a greater of $250,000 individually and $500,000 jointly is stuck with taxes on the overage. Home sellers are no longer allowed to postpone taxes on their entire gain by buying another home that costs more than what they received from the sale of the old home. Therefore it is advisable for both home buyers and home sellers to keep track of your home... Read More