Every time I receive the value of a property from the appraiser, I hold my breath. The result determines not only the value of the loan but also if the home has any issues/needs repairs before closing. Basically, the appraisal is a big deal. That goes for home in Virginia Beach, Norfolk, Chesapeake and all Read more about First-Time Hombuyers: What You Need to Know About Appraisals[…]
Attention real estate agents in Virginia Beach, Norfolk and Chesapeake: The holiday season is here and that means it’s time to party! As the real estate expert in your circle, people will come up to you at a gathering and pick your brain about the market. So keep this mortgage information handy. 3 Ways to Look Read more about First-Time Homebuyers and Holiday Parties[…]
Today, let’s talk about “payment shock” and what it means for millennials. I see the issue all the time with first-time homebuyers in Virginia (Virginia Beach, Norfolk and Chesapeake). First, what is payment shock? It’s when the amount of the proposed monthly mortgage payment is significantly higher than a rent payment — or no payment at Read more about First-Time Homebuyers and Payment Shock[…]
This week, I have a column on millennials and homebuying featured in Inside Business, the main business newspaper in Hampton Roads. Inside Business reaches the business community in Norfolk, Virginia Beach, Chesapeake, Portsmouth and Suffolk. The column is called “15 Things Millennials Want When Buying a Home” Check it out and see the column online here.
Realtors always negotiate the best terms of the contract on behalf of your clients. I often see buyers in Virginia who ask sellers to cover the closing costs. For example: “Seller to contribute $X toward buyers closing costs, pre-paids, etc..to be used at buyer’s discretion.” But do you know the difference between closing costs and Read more about Complicated Terms, Simple Definitions: Pre-Paids and Closing Costs[…]