Mortgage Lender

When house hunting, there are a lot of different decisions that you need to make. One of the most important and critical decisions you will make would be choosing which lender to work with. There are tons of lenders out there, ready to accept your loan application, however just because they will accept it does not mean they are looking out for your best interest. Since you will be the one left with this mortgage for many years down the road, it is important to find a lender for your specific needs.

There are many benefits of working with a broker, a broker can save you a lot of time by doing a large portion of the work, when it relates to finding lenders. However, keep in mind some of the drawbacks of this. Brokers are able to earn their profits by making deals between you and the lender. The wrong match, could give the broker a high profit, but not the right mortgage for you. So make sure that you do your homework and research as well to make sure that you are getting the best deal for you!

You will also need to find out what type of lender you desire. Do you want to work with a large company, or a small company? Would you want the lender to actually remember your name? This means you might want to go towards a small lender. However, if you want the best interest rate, then a large lender might be a better option. Research, research research!

A broker is not the only way to find a lender. You can also ask friends, family or coworkers and ask about their experience. At least this way, you are asking people you trust and will have your best interest in mind.

Another great option is to ask your real estate agent. A good agent will not limit their recommendations to just their in-house lenders. Use this to your advantage and ensure that the lender you work with is also recommended by your real estate agent as well.

When hearing about a lender, whether this is recommended by a family member or real estate agent, it is important to do a background check as well. Find out what their past clients though of them, and check out the online reviews as well. Try to learn as much as you can, so that you can avoid disasters down the road. This might seem very intimidating, and scary, but just ensure that you are doing as much research as you can to make the right choice for you!

Lofts

There are many different options of living spaces people can move into, and one of these options is lofts! So what’s so great about lofts and how do you move into one? Let’s find out!

One great tip to keep in mind when loft searching is to ensure you bring a loft specialist with you during your first viewing. Actually, sellers usually require this, and in the long run the agent will be representing you and your best interest, so what’s not to loose? When placing a bid on a loft, you want to try your best to ensure you place your highest and best offer on the very first day of listing. Prices are negotiable and it is always possible to ask the seller to cover some expenses such as closing costs. If you bid too much then you may loose the offer all together. By waiting to see what other bidders do, you may miss out on the loft of your dreams all together.

Most real estate purchases include delays and unexpected costs. Some transactions fail because of these unexpected costs or some people cannot obtain the right finances. But, if you work with a lender this can be avoided! By working with a lender that is experienced with lofts, they know exactly what they are doing. When working a experienced loft lender, you will want to make sure you ask them certain questions. You will want to ensure you are prepared for any delays that may happen, such as allowing extra time for moving or unexpected costs. Make sure that the seller has carbon monoxide detectors installed, and ensure that you know the HOA fees. HOA’s often require a move in and out fee as well as a security deposit. Lastly ensure that the electricity is turned on when you move in. Often times, electricity is turned off before or right after a purchase is made.

Senior Housing Marketing Trends

There are so many different market trends to take into consideration as a real estate agent as well as a buyer or seller, but one trend that may slip most people’s minds is the senior housing trend. The baby boomers are coming closer and closer to the retirement age, so let’s find out what that means!

The senior housing market was the only section of real estate that experienced positive growth during the recession. This is because the baby boomer’s demands are predicted to double by 2050! This age group is entering the time of their life when they need specialized hosing. Also, due in part to advanced medicine and living improvements, the baby boomers are expected to live an even longer lifespan! This is exactly what has been keeping the market increasing. There is a huge demand for assisted living and memory care, and this demand also increase the amount of nursing beds needed as well.

Finding the right lender and funding may be difficult for some as well. Well never fear, Fannie Mae is here! This lender provides options for senior properties, independent living, assisted living, Alzheimer’s disease or any combination of these. Just in 2015, Fannie Mae lent around $2.7 billion in financing!

Also, recently minimum wage has increased in California and New York, and this does pose a challenge for nursing homes. California has an assisted living medical care facility that has seen modest labor expenses. Because California is so densely populated, New York as well, these states can sustain the increase that will affect a minor portion of its labor pool.

Nursing homes are increasingly relying on the wireless networks in order to improve resident care. More and more healthcare providers are switching to electronic medical records. Despite this, the growing technological integration is not affecting the size and cost of development. By improving the facilities’ ability to monitor and track a resident’s health, and respond to emergencies, this won’t boost care costs. By having better technology, there can be more success for senior living developers in the real estate market.

Real Estate Apps

As this is the twenty-first century, phones are becoming more and more part of our daily lives. Some people rely more on their phones than even their computers! So, it’s only fitting that there are some very useful real estate apps that can be download for our phone-savvy customers.

One great app to download is the Trulia app! This is also a website, but the app is also very useful as well. It is available in the Apple app store and is also free. The app has separate sections for rentals and homes to own. It is also possible to use the location-based app to find potential listings near you, or a location of interest. Searches can be narrowed down by the size, year built and square footage. In addition, you can also see which neighborhoods are crime ridden, which is especially great if you have children.

Lovely is another amazing real estate app. This is a location-based app so this makes it much easier to find good places nearby while also taking into consideration your preferences. Once you find some properties that peak your interest, you can also save them and look at them again in the future. This app will also tell you if your furry friends are allowed as well! This app is also a great deal because it is free!

A more unique app to use is called Homesnap. This allows the user to find out more about the place of interest. You can take a photo of the house and it will give you more information about the property and it will even tell you if the property is a good investment or not. You can also see what properties your friends are looking at as well. This is also free, and can be downloaded for the iPhone or Android.

Zillow is of course another great app to use! This app can help you figure out whether or not you can afford the property you want. There is an affordability calculator in the app and will give you the amount you would pay in a monthly mortgage. If you are ready to refinance, you can also use the refinance calculator as well. This is available on Apple app store!

Trulia actually has another great app for users to use as well, it is called Trulia Mortgage. This is similar to the Zillow app. You can input the property price, down payment, your credit score and your zip code and see mortgage rates that are just for you! You can also research loan terms and how much lender fees are before you even call anyone! This app will help you figure out what you can and cannot afford. So try these new apps out, and they can help give you an awesome advantage in find the perfect house for you!

Old vs. New

Real Estate is quite the business and has been around for a long time. Along the way, real estate has changed alot in order to better fit with the current times.

In the twenty-first century, there is a very big difference in the way people search for houses as opposed the the twentieth century. In old times, potential buyers would have to look up properties in the newspaper under the real estate section. Then they would have to narrow down properties of interest and then go to an open house or call their agent and make an appointment. Today, people do most of their searching online, and then when they have a property of interest they contact their agent.

The marketing strategy has also changed over the years as well. It used to be that in order to market a house, people would have to make cold call, go door to door or send mail. Today, people can look in brochures and magazine that are published everywhere. There also were barely any broker or real estate agent that existed previously. This was because the because the selling and buying process was much more simple. The process consisted of the seller and buyer talking and then finalizing the deal. However today, a broker is mandatory. The real estate agent does most of the work, but they get the broker to help them out so the agent does not become overwhelmed. Not so simple anymore!

Loans have changed as well. Back in the day, selling and buying was pretty difficult sometimes because it was not easy to get a bank loan. Today however, it is much, much easier to get a loan from the bank.

How to present an offer has also changed. Back in the day, offers for a house were handwritten on paper and was pretty formal. Today however, offers can be done online and also make sure that the sale is increased and is able to earn a profit.

While the process has changed over the years, some things have not changed. The need to know the market and to understand your client’s needs have not changed. Some things have changed in order to become more effective and faster.