eelstien

March 1, 2023 by Elizabeth R. Elstien Below are some President Joe Biden-administration initiatives that impact the general real estate industry. The U.S. Department of Housing and Urban Development (HUD) premium charged to FHA-insured borrowers will be reduced for those with case numbers endorsed on or after March 20, 2023, saving borrowers on average $800 or more a year.  This is on top of the other HUD-implemented changes to make housing more affordable and accessible for low- and moderate-income Americans, such as adding positive rental history as one factor for a lender to evaluate creditworthiness. For more HUD changes, check [...]

Shift Your Mindset To Be A Real Estate Broker Brokers run their brokerage, which means attracting and keeping agents, filling the client pipeline so their agents have a leg up, marketing to compete with established national brands, determining agent compensation model, reviewing financials, and keeping ahead of new software, laws, and trends, among other considerations. Buying and selling should not be on any successful broker’s radar except to find ways to support your agents leading to agent sales. So, unless you’re planning on keeping your new brokerage to just a few agents, allowing you to continue to work directly with [...]

Small living spaces mean little storage. There are many tricks to make a small apartment or tiny home feel comfortable from decorating to give a more spacious appearance to optimizing space. Try these tasteful tips to help make the most of your small place. Organize Everything A small space means everything must be in its place. That means any storage space must be used to its fullest potential. Build or buy closet organizers to maximize storage space in all rooms. Use over-the-door pocket hangers for shoes, ties or socks. Create imaginative organization solutions to keep your possessions in their place. [...]

Choosing the right real estate agent to help you buy or sell a home is no easy task. All sales statistics aside, the wrong agent can cost you time and money. When interviewing potential agents, make sure they have these five important traits that separate the powerful agents from the mediocre ones. 1. Remarkable Listener The true to key to a good agent is how well they listen and retain what they heard. If you say your budget maximum is $250,000, then they should stick to within that price when providing properties to view. A good listener should quickly ascertain [...]

  Paints are going green, and it's not about the color. From low-to-zero volatile organic compounds (VOCs) to avoidance of toxic pigments, it's a fact that greener paints are better for the environment and your health. Learn about greener primers, paints and sealers and where to get them. Paints are now safer than ever. The Environmental Protection Agency (EPA) strictly regulates all types of surface finishes. Be aware that no-VOC listing regulations allow some chemicals to be present if under 5 grams per liter (250 grams per liter for low-VOC) and others do not need to be listed at all. [...]

  Whether purchasing a single-family home, duplex or other multi-family complex, you have to make it pay off. In other words, you have to treat the purchase just like a business, performing marketing and advertising, making the property (inside and outside) look attractive, and treating the tenants fairly and according to local, state and federal landlord-tenant laws. Make your investment property pay off with these four crucial tips. 1. Buy At The Right Price The downtrodden market of the past made from some stellar residential investment property purchases. Buy right, purchasing a single-family home, duplex or apartment complex with a [...]

  For non-seasoned real estate agents who want to represent the seller and get listings, just how do you get to the point of contract signing? How do you get to represent the seller? You must earn the seller's trust by showing your expertise, honesty and competency. Try these 12 steps to nail the listing from appointment to contract signing. While these are tried and true steps to get a listing, you can also use your creativity and play more to the individual seller. Keep in mind that as a general rule, sellers over age 45 prefer paper listing presentations [...]

The American mortgage downturn led to the national banking crisis of 2007, which led to the global economic recession. The subprime mortgage crisis was the main cause of this recession. Follow along and learn what burst the mortgage bubble. SUBPRIME MORTGAGES GONE WILD Prime mortgages are at the best interest (prime) rates for buyer's credit and are given to those with good credit with the rate depending on Fico scores and other factors. Subprime mortgages are mortgages given to homebuyers whose credit is inferior. Often buyers obtaining subprime mortgages do not have enough funds for a full down payment. Risky [...]