Gene's Bit of Blogging
Los Angeles Home Buying
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Gene Mundt, Mortgage Lender: Posted on Monday, April 16, 2012 2:51 PM
Coulda ... Woulda... Shoulda! That's What You're Going to Say, if You Don't Buy Now!
Missed Opportunities!
Regrets!
Lost Potential!
Coulda ... Woulda ... Shoulda!
That's what you're going to be hearing yourself say ... if you don't buy a home while the current unique and beneficial housing market's opportunities exist.
Why? How do I know this?? Because I've begun to hear some Coulda ... Woulda ... Shoulda's ... stories related to me. People are telling me they're kicking themselves over lost opportunities.
Reports from many agents and potential home buyers alike, say homes in many areas of Chicago, Chicagoland, Will County (and elsewhere) are moving more quickly once again. (One Example relating this change in the housing market comes from Chicagoland Agents: Read this post from Howard & Susan Meyers, The Hudson Company, regarding the housing market on Chicagoland's North Shore: "The Worm Has Turned".)
Many markets are
healing and seeing rebounding prices. Sellers are receiving multiple
offers for their properties.
Opportunities have been lost by some potential home buyers, leaving these potential home buyers wishing THEY had taken action sooner.
A few of my own clients have said they regret not regaining control over their own finances or taking action to improve their credit prior to talking to me. They wish they had checked their Credit Report sooner and more often. They now know they'd be much further ahead and have more financing options open to them when they buy.
Many have stated they simply wish they had listened and followed their real estate agent's advice better. They mistakenly thought they were going to "low-ball" a bid and steal a home at a ridiculously low price, then ended-up losing out. The "low-ball" philosophy just didn't work.
Still others have been fence sitters. They've delayed making a sales offer too long and lost-out to other buyers capable and willing to make a home buying decision.
Good news does still exist! Interest rates and housing prices remain low.
But do not doubt this ... time is of the essence. You need to take action.
Take steps NOW to prepare yourself. At minimum, find and team-up with an experienced, professional mortgage lender. Get the home buying ball rolling.
There are no negatives to having your credit report run. Most mortgage lenders will do it for free. I do. And whether you buy a home soon or down the road ... you win. You save money on all sorts of services because you've improved your credit scores. Insurance. Cell phone service. Credit cards ... you name it. The better your credit, the less you pay, the more money you save.
Avoid the Coulda ...
Dodge the Woulda ...
Protect yourself from the Shoulda ...
* Discover what home buying and financing options exist for you, whether in Will County, IL, Chicagoland, or any of the 50 states. Contact me today! We'll work together to get you on the right path to homeownership ... now ... or for the future.
I can be contacted through any of the following:
Direct: 815.277.4036 Cell/Text: 708.921.6331 Conveniently thru Skype: 630.219.1316
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Credit, Credit Repair, Buying a Home, Credit Reports/Fico Scores, Importance of Credit, Mortgage Lender, Mortgages, Real Estate, Working with a Mortgage Professional, Chicagoland, Will County, Agents and Brokers, First-Time HomeBuyers, Chicago, Asking credit and mortgage questions, Home Buyers, home buying, Right Time to Buy a Home, Home Ownership, Los Angeles CA agents and realtors, Los Angeles Home Buying, Winnetka and North Shore, Interest Rates, Pre-Qualification/Pre-Approval
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Gene Mundt, Mortgage Lender: Posted on Monday, March 26, 2012 12:46 PM
You Wouldn't Call a Part-Time Doctor to Do Your
Heart Surgery, Would You??
As we often do, my wife and I were having a discussion about work the other day. I had just gotten home and it had been a very trying afternoon.
A Closing that day had taken much longer than it should have. Also, one of the deals I'm presently working on had developed "hiccups". Nothing that can't be solved, just frustrating.
The deals of two of my underling lenders had needs and issues to see to as well. Glitches, and not all that uncommon anymore in the scheme of things. But still, there had been a number of them ... and the time dealing with them had mounted up.
Upon reflection of all these issues, both my wife and I were struck by a commonality that ran through each of the transactions like a thread. Each of the current transactions suffering issues had at least one real estate person working within it that was not full-time. One transaction had several "part-timers" working on it. And unfortunately, in each instance that had made a difference ... a negative one.
Earlier that day, I had in fact taken issue with one of my own lenders about missing an important meeting. The meeting ... one held the same time, same place each and every week, are considered mandatory. Yet, they were a no-show. (No valid reason as to why they were not in attendance). And a topic had been covered that would have been of assistance to them on their troubled file.
One transaction I refer to had an attorney involved within it that rarely handles real estate any longer. Another deal had agents that were at best ... part-time.
Still another transaction had had a title company involved, that seems to be only dabbling at doing business. They literally had left clients sitting in their offices after a Closing waiting for follow-up documentation, no one from the title company represented within the building. All had left. Most lights out. Still scratching my head about that one.
And it all made me wonder how ...
* In this day and age of quickly-changing regulations, rules, information, needs, underwriting, etc. ...
* In this day and age of short-sales, REO's, foreclosures, this litigious society, etc. ...
* In this day and age when transactions are so detailed, nuanced, and possibly even time-restricted ...
How can anyone presume to conduct business on a client's behalf devoting less than full-time to their profession or business?
And WHY would any client ... especially in this day and age ... take the risk of relying on someone that did not devote full-attention and energy to them, the tasks at hand, or their profession? Because that IS what they are doing. Taking a huge risk.
If this was a medical situation, you certainly wouldn't work with a part-time doctor, would you??
Real estate transactions typically involve the largest debt any client will ever incur. Certainly home buyers should demand that high standards of professionalism and knowledge be met within their home buying transactions too.
Here is my opinion regarding this issue ...
Today's transactions demand great attention to detail and follow-up. Constant communication and vigilance. If you utilize the services of real estate professionals devoting only part-time effort and attention to your transaction, you expose yourself to risk, error, and extra costs. At minimum, you will most likely experience last-minute drama in your transaction ... unneeded, frustrating, and typically avoidable.
I can't stress the importance of this matter enough ...
Do yourself a huge favor. Protect yourself and your interests ... by doing your preliminary homework well.
Seek referrals, check websites. Ask for testimonies, speak to prior clients, verify a professional's successes ... prior to making a final decision regarding who you will work with.
Don't be afraid to ask the question ... "are you full-time"?? It's important that you know just how much time they are committing to you. It is well-worth it to you to ask these questions and do this preliminary homework. It will save you time, energy, frustration, and possibly even money down the road.
* Work with a full-time experienced, knowledgeable mortgage lender with 35 years of expertise to put to work on your behalf. Contact me today. I'll be happy to hear from you and have the opportunity to earn your trust and your mortgage business. I can be found at any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316
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Buying a Home, Mortgage Banker, Mortgage Lender, Working with a Mortgage Professional, Agents and Brokers, Conducting Business, First-Time HomeBuyers, Choosing a Mortgage Lender, Working with a Real Estate Professional, Home Buyers, home buying, Servicing Clients and Referral Partners, Los Angeles Home Buying, Choosing Your Real Estate Professionals
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Jane Peters, Los Angeles Real Estate - Guest Blogger: Posted on Wednesday, November 09, 2011 11:34 AM
If You Are Thinking of Buying a Los Angeles Home, Rein in your Holiday Spending
As a mortgage lender, I cannot applaud the message in this blog by Jane Peters (Los Angeles Real Estate)loudly enough or counsel you to heed it any more urgently ... whether buying in Jane's area of expertise, Los Angeles ... or or in mine, the Chicagoland area.
Especially heading into the holiday season,
the temptation to buy or open up new credit can be great. For those
buying a home, contemplating doing so, or those just recently closed
on their loan ... adding to your debt, opening new lines of credit, or
even simple credit inquiries can prove catastrophic and lethal to your
transaction.
Heed the advice that Jane Peters offers within her post.
Listen to your mortgage lender too. Put your purchases and new credit
applications on the back burner and out of your mind until you have
achieved the goal you are seeking ... that being your new home at the
best purchase price and interest rate possible.
Working with professionals that will
advise you prior to, throughout, and after your home buying transaction
is vitally important. In Los Angeles, that professional is Jane Peters, Los Angeles Real Estate ... Gene
You are excited about buying a Los Angeles home and have been very good about keep your credit immaculate. However the holiday season looms putting your hard work in jeopardy.
Your
shopping list sits in front of you beckoning. You are probably not
going to pay cash for all those gifts, or write a check.
You may open
store credit, apply for a new credit card, or simply jack up your
balance on your existing credit card. Too many enquiries on your credit
in a short period of time is going to cause your credit score to drop.
Simple opening a new line of credit can cause your score to drop by 52
points and raising your credit card debt can also decrease your score by
around 68.
This drop in score can cause a potential homebuyer to miss out on getting the best mortgage rate. If you are thinking of buying a Los Angeles home, The Mortgage Reports advises
caution, especially during the holiday season.
Don't open any new
lines of credit, finance any expensive purchases, increase your credit
limit, or make any other rash financial moves.
Buying or Selling Los Angeles Real Estate:
Buying or selling a Los Angeles home can
be a daunting process in a city this size, especially if you're new to
L.A. Town. You'll need a resident expert to show you around and help you
narrow down the areas where you might like to live. I will help you
find the perfect home in the right area to fit your lifestyle, budget
and needs!
When I list and sell Los Angeles homes for
my clients I strive to make the experience a pleasant one. My mission
is to provide outstanding service while utilizing the best practices and
systems available.
If
you are an absentee owner, you'll need someone to handle all the
details that you can't handle remotely. That's where I come in - I'm
there when you can't be. I also specialize in lease property in Los Angeles.
For more information on how I can best serve your Los Angeles real estate needs, don't hesitate to fill out the contact form or give me a call at 310-473-6919.
Jane Peters, connecting you to the L.A. real estate scene.
Buying or selling real estate in Los Angeles can be an overwhelming process.
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Credit, Buying a Home, Credit Reports/Fico Scores, Real Estate, Real Estate Advice, Localism Posts, Home Services, Selling Your Home, First-Time HomeBuyers, Buying or Renting, Debt, Mortgage Closing Costs, Education, Rental Properties, Credit Counseling, Real Estate Professionals, home buying, Home Ownership, Los Angeles CA agents and realtors, Los Angeles Home Buying, Los Angeles rental properties
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