Question of the week: When will we know it is time to buy? Answer: Not an uncommon question for those of us in the real estate industry; agents, lenders, escrow officers, appraisers, almost anyone directly, or tangentially, active in real estate gets this question not infrequently. The question is the real estate version of “when […]
Question of the week: How will AI impact mortgage industry? Answer: It already has. In the mid-1990’s Fannie Mae and Freddie Mac rolled out “Automated Underwriting Systems” (AUS). It enabled lenders to upload loan applications and credit reports through AUS where the program analyzes the data and returns with a credit decision. The decisions are […]
Question of the week: How do we buy a home? Answer: Have a plan and follow the plan. The plan that I suggest: Know your ability. The overwhelming majority of homebuyers I have worked with in the thirty-five plus years come to me to get pre-qualified after they have already started looking for their new […]
Question of the week: Can commercial market drag economy into recession? Answer: Maybe. Those of you who are old enough may recall that the Great Recession that began in late 2007 was precipitated by a collapsing housing market. Dropping housing prices led to many homeowners owing more on mortgages than their homes were worth. Some […]
Question of the week: What are some areas we should review to start the year? Answer: If the question of the week looks familiar, it is as it is we ask near the beginning of every year; because it is that important. Over the next few weeks, or months depending on your particular situation, you […]
Question of the Week: How much more is it to buy a home this year? Answer: From the end of December in 2022 to end of December 2023 it will cost you 6.42% more to buy the median home in California if you are paying cash, and depending on various factors, 10.71% if using a […]
Question of the Week: Our roof is leaking; can we sue the seller? Answer: Probably not. This question came up as when I got up on Monday morning and was headed to kitchen for my morning routine of coffee and reading, I heard a “plop…plop…plop” coming from the family room. “Uh-oh” I thought, because I […]
Question of the Week: Should we transfer property to our children this year? Answer: Perhaps. If not this year then possibly next. In January 2018 the Tax Cuts and Jobs Act took effect. The Act had a tremendous on the tax codes for individuals, businesses, corporations, and estates. One of the largest changes was the […]
Question of the Week: How can we buy a home in 2024? Answer: With planning and assistance from professionals, and perhaps family. While there are families buying homes for over one-million dollars with cash, they are the far, far outliers for the home buying market. Chances are if you are reading the WR&MU, or someone […]
Happy 2024! Every new year is approached with hope and promise for the coming year. Such are the sentiments many in the real estate industry have for 2024. Any optimism in regards to real estate markets is based on mortgage rates continuing their move downward that began in October. Yes, rates should drop in 2024, […]
