The Ten Best in RE.net This Week: June 20, 2010 Edition
1 ) REALTOR, it is such a hot button word for many agents. How many agents are told they cannot use the word the way they are using it such as in website names . . . a lot of them. Realtor -vs- Real Estate Agent. When is it Appropriate to Use the Term Realtor? takes a look at the use of the word and when it is appropriate.
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2 ) When negotiating, feelings can get hurt on both sides. Negotiating Advice for Buyers and Agents Alike – Some Perspective from my 13-Year Career shows you the ins and outs of negotiating, and how you should not take anything personally.
3 ) It doesn’t make me popular in the business, but being a non-debt guy I think everyone should be looking at a 15-year mortgage over a 30-year mortgage. Can’t afford a 15-year, then my argument would be that you can’t afford that house, yet. The Mortgage Rate Difference Between A 15-Year Fixed And 30-Year Fixed Mortgage compares them. While I have great respect for Dan, I disagree strongly with his “tax advantage” scenario. Either way, you should know your options.
4 ) Some of you may have heard that the closing date to qualify for the tax credit was extended. Many website blogs were reporting it. Well not exactly. The Home Buyer Tax Credit NOT Extended.
5 ) Agents talk about it over and over again. Who Needs A Buyer’s Agent? I Can Find It All On The Web!. No matter how much we talk about it, buyers don’t seem to understand how important it is to have an agent to represent them. There is so much more that goes into it than writing an offer.
6 ) Home Affordable Mortgage Program fails miserably. The title says it all. The stats are even more telling in that 65%-75% of HAMP loan mods default again.
7 ) With the new guidelines, this year lenders do not want to give out GFE’s until the buyer finds a house because they are binding. How to Shop for a Mortgage Originator When They Won’t Provide a Good Faith Estimate shows you how to shop without one.
8 ) HGTV is fun for us to watch. We see how different agents do things differently and laugh as we see buyers and sellers make the same mistakes our clients make. But Looking for a House? Why HGTV is Not Your Best Friend… shows buyers how what you see may not be great advice.
9 ) Congressman Barney Frank wants to eliminate zero point mortgages. What!???!! Really!??! I had to check to see if it was April 1st. Come on Barney.
10 ) TRUST BUT VERIFY … REGURGITATING BAD INFORMATION CAN GET YOU SUED! is a post that agents need to read. Just because you hear something or see something on the web, does not make it true. Make sure you verify before you tell clients about it.