Real Estate

  What is a Short Sale? In the world of Real Estate, a short sale refers to the sale of real property for an amount less than the amount owed on the property. In the short sale scenario, the bank agrees to accept less than the full balance due on the debt, and usually ‘forgives’ all or a large portion of the difference. How will the Short Sale affect my credit? Banks have the option of submitting the short sale to the credit bureau as "Paid in Full" or "Settled for less than full balance". If you are currently behind on your mortgage or facing foreclosure, the short sale can actually help your credit! How? Because once you are approved for the short sale, all collection activity will STOP and you will avoid foreclosure! Then, once your property closes, your current mortgage balance will be removed from your credit file and replaced with a zero balance, which also helps your overall debt ratio. Who benefits from the Short Sale? Short sales are a win-win situation. Le...

Why Are Interest Rates Going Up? Here’s What Investors Need To Know About It! The Federal Reserve is aggressively increasing interest rates to slow the economy down. In 2022, the Fed raised interest rates by 200 basis points, or 2%, in hopes of slowing down inflation. A higher interest rate discourages people from borrowing money because it will cost them more. The result is people purchase fewer goods, leading to less demand. This, in turn, slows down business growth, share prices, and the economy as a whole. While many experts agree that rising interest rates are needed, there is disagreement over how long it will take to get inflation back under control. See the list below of different investment types and how they are affected. If you've been paying attention to the news lately, you know that interest rates are rising. But you might still be curious to know why this is happening and who has the power to set our rates. In short, it’s the Federal Reserve that has the ability to c...

    

Avoid these easy-to-prevent mistakes that could cost you big time. 1. Not Knowing Where the Main Water Shutoff Valve Is Water from a burst or broken plumbing pipe can spew dozens of gallons into your home's interior in a matter of minutes, soaking everything in sight–including drywall, flooring, and valuables. In fact, water damage is one of the most common of all household insurance claims.  Quick-twitch reaction is needed to stave off a major bummer. Before disaster hits, find your water shutoff valve, which will be located where a water main enters your house. Make sure everyone knows where it's located and how to close the valve. A little penetrating oil on the valve stem makes sure it'll work when you need it to. 2. Not Calling 811 Before Digging a Hole Ah, spring! You're so ready to dig into your new yard and plant bushes, and build that fence. But don't–not until you've dialed 811, the national dig-safely hotline. The hotline will contact all your local u...

The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin settling into your new place. Fortunately, you don’t have to do everything in a day. You don’t have to do it all alone, either. When you work with us to sell or purchase a home, you’ll have an ally by your side long after your transaction has closed. We’ll continue to be a resource, offering advice and referrals whenever you need them on packing, hiring movers and contractors, and acclimating to your new home and neighborhood. When it comes to a life event as stressful as moving, it pays to have a professional by your side. Here are some of our favorite pro tips to share with clients as they prepare for an upcoming move.   1.  Watch out for moving scams Maybe you will receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume...