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What agents need to know about the impact of interest rates on the real estate market

Housing Wire

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. How interest rates impact your clients Let’s look at how interest rates can impact buyers, sellers or homeowners looking to refinance.

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Frustrated homebuyers turn to fixer-uppers

Housing Wire

Patrick, a first-time homebuyer, was competing with buyers who were waiving basic contingency requirements and/or putting in offers that far exceeded the seller’s asking price. After months of slogging through a string of disappointments, Patrick turned to a renovation loan and started looking at fixer-uppers. Already a member?

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Real estate appraisals: What agents should know

Housing Wire

You’ve found a house for your buyer or a buyer for the home you’re selling. Appraisals are required for homes financed with any type of mortgage. This will help you set a realistic price and manage your sellers’ expectations. For appraisals that are low, a seller may want to get a second appraisal.

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Cosmetic tweaks to help sell your house fast

Housing Wire

You want to make a few preparations to attract the most potential buyers. Four renovations to consider before selling your house. But you’d be surprised by how many sellers forget or rush the cleaning process. Dust accumulates and you don’t want a potential buyer to find dust on the ceiling or smudges on the windows.

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What is a 2-1 temporary rate buydown?

Housing Wire

Generally speaking, a buydown is a real estate financing technique that makes it easier for a borrower to qualify for a mortgage with a lower interest rate. A 2-1 buydown can be paid for by the homebuyer or the home seller can pay for it as a seller concession. So what is a 2/1 rate buydown? How does a 2/1 rate buydown work?

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Purchasing a Home That Requires Renovations and Repairs

Lamacchia Realty

When buyers are in the process of finding their perfect home, they often realize that finding a home that checks all of the boxes, has a great layout, and is aesthetically pleasing is easier said than done, especially if you’re a first-time homebuyer on a budget. When in doubt, get your permits.

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Pros and Cons of Selling Your Home As-Is

Cleveland Appraisal Blog

For some homeowners, extensive renovations can present a challenge in terms of time and finances, particularly if you plan to move out of your home soon. In that case, potential buyers will lay down an ‘as-is’ offer, which means they will acquire the home in its current condition. No repairs, no costs.