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*ROTFLAMO*

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*ROTFLAMO*

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*ROTFLAMO*

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My feeling is that rates will not go up dramatically next year as it would kill the “recovery” and would also put more downward pressure on home values, which it seems the gov. will do almost anything to prevent.

Probably not dramatically next year, but they should start to creep up. Yes, it will put downward pressure on home prices (price and value are different things – value is what you get compared to what you pay).

We are still prepared to keep renting but I am concerned that any further drop in prices could be offset by a rise in intrest rates.

If you are going to sell, this is a problem. If you are going to buy, it means that any down payment you do will go further. Yes, the interest rates and house prices move in opposite directions.

[ucodegen]

My feeling is that rates will not go up dramatically next year as it would kill the “recovery” and would also put more downward pressure on home values, which it seems the gov. will do almost anything to prevent.

Probably not dramatically next year, but they should start to creep up. Yes, it will put downward pressure on home prices (price and value are different things – value is what you get compared to what you pay).

We are still prepared to keep renting but I am concerned that any further drop in prices could be offset by a rise in intrest rates.

If you are going to sell, this is a problem. If you are going to buy, it means that any down payment you do will go further. Yes, the interest rates and house prices move in opposite directions.

[ucodegen]

My feeling is that rates will not go up dramatically next year as it would kill the “recovery” and would also put more downward pressure on home values, which it seems the gov. will do almost anything to prevent.

Probably not dramatically next year, but they should start to creep up. Yes, it will put downward pressure on home prices (price and value are different things – value is what you get compared to what you pay).

We are still prepared to keep renting but I am concerned that any further drop in prices could be offset by a rise in intrest rates.

If you are going to sell, this is a problem. If you are going to buy, it means that any down payment you do will go further. Yes, the interest rates and house prices move in opposite directions.

[ucodegen]

My feeling is that rates will not go up dramatically next year as it would kill the “recovery” and would also put more downward pressure on home values, which it seems the gov. will do almost anything to prevent.

Probably not dramatically next year, but they should start to creep up. Yes, it will put downward pressure on home prices (price and value are different things – value is what you get compared to what you pay).

We are still prepared to keep renting but I am concerned that any further drop in prices could be offset by a rise in intrest rates.

If you are going to sell, this is a problem. If you are going to buy, it means that any down payment you do will go further. Yes, the interest rates and house prices move in opposite directions.

[ucodegen]

My feeling is that rates will not go up dramatically next year as it would kill the “recovery” and would also put more downward pressure on home values, which it seems the gov. will do almost anything to prevent.

Probably not dramatically next year, but they should start to creep up. Yes, it will put downward pressure on home prices (price and value are different things – value is what you get compared to what you pay).

We are still prepared to keep renting but I am concerned that any further drop in prices could be offset by a rise in intrest rates.

If you are going to sell, this is a problem. If you are going to buy, it means that any down payment you do will go further. Yes, the interest rates and house prices move in opposite directions.

[ucodegen]

Could you guess for some reasons why a listing agent would order termite report before mls listing?

Chiming in here. Both SD Realtor/sdrealtor/urbanrealtor are right.

Basically as a seller, you want the inspection done before MLS listing because it will give you time to remediate/fix any problem before the property goes to listing.

Inspection immediately after listing is a very bad time to try to do this because the first few weeks of a listing are critical (don’t forget DOM). Trying to do inspection/remediation while MLS listed and having Realtors trying to visit the property is not a successful way to get the property sold. (ie: imagine having a Realtor coming to show the house.. and it is tented for termite fumigation).

Doing the inspection after sale, risks the sale. The buyer will probably make the sale contingent on the needed inspections (if they even want to deal with the potential risk of the property failing inspection). If these don’t pass, you may loose the sale or the buyer may want a price adjustment.

Besides: doing it ahead of the MLS demonstrates to a buyer that the seller is really ready for a sale and is prepared.

Seller is generally expected to have all permits and inspections done. Not having them done can seriously impact the selling price of the house (due to buyer pricing in ‘unknowns’).

[ucodegen]

Could you guess for some reasons why a listing agent would order termite report before mls listing?

Chiming in here. Both SD Realtor/sdrealtor/urbanrealtor are right.

Basically as a seller, you want the inspection done before MLS listing because it will give you time to remediate/fix any problem before the property goes to listing.

Inspection immediately after listing is a very bad time to try to do this because the first few weeks of a listing are critical (don’t forget DOM). Trying to do inspection/remediation while MLS listed and having Realtors trying to visit the property is not a successful way to get the property sold. (ie: imagine having a Realtor coming to show the house.. and it is tented for termite fumigation).

Doing the inspection after sale, risks the sale. The buyer will probably make the sale contingent on the needed inspections (if they even want to deal with the potential risk of the property failing inspection). If these don’t pass, you may loose the sale or the buyer may want a price adjustment.

Besides: doing it ahead of the MLS demonstrates to a buyer that the seller is really ready for a sale and is prepared.

Seller is generally expected to have all permits and inspections done. Not having them done can seriously impact the selling price of the house (due to buyer pricing in ‘unknowns’).

[ucodegen]

Could you guess for some reasons why a listing agent would order termite report before mls listing?

Chiming in here. Both SD Realtor/sdrealtor/urbanrealtor are right.

Basically as a seller, you want the inspection done before MLS listing because it will give you time to remediate/fix any problem before the property goes to listing.

Inspection immediately after listing is a very bad time to try to do this because the first few weeks of a listing are critical (don’t forget DOM). Trying to do inspection/remediation while MLS listed and having Realtors trying to visit the property is not a successful way to get the property sold. (ie: imagine having a Realtor coming to show the house.. and it is tented for termite fumigation).

Doing the inspection after sale, risks the sale. The buyer will probably make the sale contingent on the needed inspections (if they even want to deal with the potential risk of the property failing inspection). If these don’t pass, you may loose the sale or the buyer may want a price adjustment.

Besides: doing it ahead of the MLS demonstrates to a buyer that the seller is really ready for a sale and is prepared.

Seller is generally expected to have all permits and inspections done. Not having them done can seriously impact the selling price of the house (due to buyer pricing in ‘unknowns’).

[ucodegen]

Could you guess for some reasons why a listing agent would order termite report before mls listing?

Chiming in here. Both SD Realtor/sdrealtor/urbanrealtor are right.

Basically as a seller, you want the inspection done before MLS listing because it will give you time to remediate/fix any problem before the property goes to listing.

Inspection immediately after listing is a very bad time to try to do this because the first few weeks of a listing are critical (don’t forget DOM). Trying to do inspection/remediation while MLS listed and having Realtors trying to visit the property is not a successful way to get the property sold. (ie: imagine having a Realtor coming to show the house.. and it is tented for termite fumigation).

Doing the inspection after sale, risks the sale. The buyer will probably make the sale contingent on the needed inspections (if they even want to deal with the potential risk of the property failing inspection). If these don’t pass, you may loose the sale or the buyer may want a price adjustment.

Besides: doing it ahead of the MLS demonstrates to a buyer that the seller is really ready for a sale and is prepared.

Seller is generally expected to have all permits and inspections done. Not having them done can seriously impact the selling price of the house (due to buyer pricing in ‘unknowns’).

[ucodegen]

Could you guess for some reasons why a listing agent would order termite report before mls listing?

Chiming in here. Both SD Realtor/sdrealtor/urbanrealtor are right.

Basically as a seller, you want the inspection done before MLS listing because it will give you time to remediate/fix any problem before the property goes to listing.

Inspection immediately after listing is a very bad time to try to do this because the first few weeks of a listing are critical (don’t forget DOM). Trying to do inspection/remediation while MLS listed and having Realtors trying to visit the property is not a successful way to get the property sold. (ie: imagine having a Realtor coming to show the house.. and it is tented for termite fumigation).

Doing the inspection after sale, risks the sale. The buyer will probably make the sale contingent on the needed inspections (if they even want to deal with the potential risk of the property failing inspection). If these don’t pass, you may loose the sale or the buyer may want a price adjustment.

Besides: doing it ahead of the MLS demonstrates to a buyer that the seller is really ready for a sale and is prepared.

Seller is generally expected to have all permits and inspections done. Not having them done can seriously impact the selling price of the house (due to buyer pricing in ‘unknowns’).

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

[ucodegen]

But I still don’t understand how can a broker possibly give a better rate than a bank? Can’t I just walk into the same bank and get the same loan without paying any YSP?

Basically they can’t. But an ethical mortgage broker has better access to bank rates and can do a quicker job of comparing/shopping. If you don’t have the time to do the leg work/chasing down banks, a mortgage broker is a good alternative. Be aware, not all mortgage brokers are ethical. The YSP or Yield Spread Premium goes to the broker and creates a conflict of interest with respect to getting a mortgage. The broker in effect works for the bank, not you.. If using a mortgage broker, make sure that they are not the only one trying to find you a loan (do a first/best one wins).

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