Gene's Bit of Blogging
Real Estate
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Guest Blogger - LaNita Cates, Re/Max Realty of Joliet, IL: Posted on Thursday, May 10, 2012 10:52 AM
Buyers Decide Within 8 Seconds Whether They Are
Interested In a Home
I am a huge fan of Real Estate Agent and Mogul Barbara Corcoran. Barbara is a Real Estate Contributor on NBC's Today show and the wonderful addition to ABC's Shark Tank.
 Per Barbara:
"BUYERS DECIDE WITHIN 8 SECONDS WHETHER THEY ARE INTERESTED IN YOUR HOME."
I'm not surprised by this at all. It's the first impression when
walking in and hearing, "Wow, this is cute" - or - "Ugh, what is that smell?" Pretty much sums of the next few minutes of the tour of that home.
I always tell my buyers that they will know when they walk in if this
is their home or not. If they aren't feeling it within the first 10
seconds, let's move on. They never believe me... AT FIRST. But usually
by the 4th house, they agree that they know pretty much immediately if
they are interested or not when walking in the door.
So buyers pretty much know. Sellers - remember that! That first
impression (or at least the first 8 seconds) can decide whether the
buyer is interested in your home!
* LaNita
Cates of REMAX Realty of Joliet has been serving the Joliet,
Plainfield, Naperville, Crest Hill, Bolingbrook, Shorewood and
surrounding areas, helping buyers and sellers with all their real estate
needs.
Call or Contact: LaNita Cates REMAX Realty of Joliet today ...
Office: 221 Springfield Ave., Joliet, IL 60435 Office Phone: 815-609-0887
Office Fax: 815-364-1267 Cell: 630-341-1545 |
Buying a Home, Real Estate, Real Estate Advice, Will County, Agents and Brokers, Home Improvements and Curb Appeal, Maintenance and Upkeep of Your Home, Selling Your Home, Staging your Home, Remodeling, Real Estate Professionals, Home Maintenance & Repair, Home Buyers, home buying, Deciding Which Home is Best to Buy, Home Staging, Realtors, Preparing your home for sale
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Gene Mundt, Mortgage Lender: Posted on Tuesday, April 24, 2012 11:19 AM
Enjoying Just One of the Many Great Chicagoland Music Venues
The Dominican University Performing Arts Center in River Forest, IL
My wife, Marilyn, is a huge country music fan. Traditional country. Old country. Bluegrass. Iconic country performers. The more "twang" the better for her.
Knowing his mom's long-standing love affair with the genre, our youngest son and his wife gave her a Christmas gift of a pair of tickets to see Marty Stuart and the Fabulous Superlatives for this last Saturday night.
To say she enjoyed herself, would be an understatement. Let's just say I see a whole new side of her during shows like this.
The Performing Arts Center and the Dominican University itself, is surrounded by some of the most beautiful homes you'll find within Chicagoland too. There are just blocks after blocks of them. Old and new. Varying architecture.
Prior to the concert, we enjoyed just driving around and soaking up the River Forest area. (What else does someone with 35 years in the real estate industry subject their spouse to??) Massive trees are everywhere within this City. I swear, we could have just enjoyed driving for hours in River Forest. Gorgeous.
During our show on Saturday night, we were right smack in the middle of the Performing Arts Center, just 11 rows back. When Marty Stuart came out to showcase his "pickin'" abilities and speak to the crowd, I thought we could reach-out and touch him.
Now for those that don't know much about Marty Stuart, here's a little taste:
If you ever get the chance to see and hear Marty Stuart and the Fabulous Superlatives, jump on it.
* Hoping to buy a home in River Forest, IL or nearby in Chicago or Chicagoland area? Work with a proven professional with years of experience and expertise at helping home buyers and clients successfully complete and close their transactions. Contact me today. I'll be happy to hear from you and have the opportunity to earn your trust and mortgage business. I can be found at any of the following: Direct: 815.277.4036
Cell/Text: 708.921.6331 Conveniently Through Skype: 630.219.1316 or Click Here 4 a: |
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Gene Mundt, Sr. V.P./ Mortgage Lender - The Federal Savings Bank: Posted on Wednesday, April 18, 2012 2:06 PM
New Changes to Mortgage Rules
and Regulations Don't Have to be
This Summer's "Beanball" and Knock Buyers Out of Their Home Buying Game
 The ever evolving mortgage business requires an expertise and personal commitment by its professionals to provide excellence in service and quality, not to mention results. And part of that commitment includes education and the imparting of knowledge to the public, their clients, and referral partners to industry guidelines and changes to those guidelines.
A recent announcement from HUD, on the processing of those loans intended to be insured with an FHA loan, indicates that further credit tightening is warranted when a Borrower owes more than $1,000 in bills in collection.
In the past, an Underwriter could use discretion and approve such credit scenarios. Now, that is no longer the case ... and that scenario is NOT approvable. Now a Borrower MUST pay-off that debt to qualify, or at minimum, have established a sufficient past history of paying back their creditors on a monthly basis, if not in full. And that includes medical collections, an area where some leniency was also applied in the past.
Now debate may rage about the intelligence or need for this new HUD decision, but the debate changes nothing. The bottom line is: This new ruling is in effect. And that means further education of the home buying public is absolutely necessary regarding it at this time, for it WILL impact Buyers who:
- Have the required minimum Credit Score, but have outstanding, past due collection accounts.
- Do NOT have the funds needed to pay-off debts/collections in their entirety ... but still have the necessary savings for Down Payment and Closing Costs.
The above just points out one more huge reason we in the real estate industry need to educate the public about the home buying and mortgage process better ... and the importance of getting ALL Home Buyers, not just some ... "pre-approved" for their purchase and/or mortgage financing (sooner than later)!
 So Buyers, please take note: This new ruling recently "pitched" at us by HUD does NOT mean your "beaned" and out of your home buying game. It just means this ...
Since HUD is stating that a 3 month payment history, or longer, is needed to approve a scenario with Collections totaling $1,000 or higher ... if you're looking to buy a home in a projected time frame of 6 months from this date, you should absolutely get "pre-approved" NOW!
If you're hoping to become a home buyer, contact me (or your own lender). Take action to stay in the game! Don't hesitate or wait any longer. It's
best to start the "pre-approval" and mortgage financing process
earlier than later. Give yourself, and your mortgage lender, the time to work-out any
credit issues that might be present ... and start collecting the financial
information and documentation needed for mortgage application.
If an agent/broker, pass
this advice on to ALL your potential buyers and everyone else you know so they too can pass it on. Educate as many as possible to these new changes. Save
home buyers, and yourself, the disappointment of starting the home buying and "pre-approval" process "too
late".
As a matter of policy, it is my opinion that it is extremely important that ALL home
buyers talk with a mortgage lender to be "pre-approved". That this should
be established as a priority and absolute necessity.
Home Buyers should know, and respect, the
fact that Agents/Brokers invest much time, effort, and dollars into
their services and those receiving them ... and respect that fact.
These facts together dictate that (in the over-riding cases) ALL Home
Buyers be "pre-approved" prior to their Agent showing them homes.
In the long-run, Buyers are much better served adhering to a "pre-approval" rule.
There are fewer surprises and last-minute issues to see to once actual
mortgage processing begins. The entire process will run more smoothly
and be more enjoyable.
HUD, and other governmental agencies, can "pitch" us new rules and regulations now and in the future ... but it does NOT mean
they have to be "bean balls", knock Buyers out, or keep them from buying a home.
Good, complete
preparation by Home Buyers, their Mortgage Lender, and all their real estate professionals, can mean
these changes are addressed and handled fully to the satisfaction of HUD. Successful home buying and Mortgage Closings can be a result ...
* Get the professional mortgage information and service you need to buy your home, whether in Will County, IL, Chicago, Chicagoland, or across the U.S. in any of the 50 states. Work with a "big league"
mortgage professional that knows and understands how to guide and
assist you through today's challenging mortgage processing and home buying experience. Contact me today! I'll be glad to hear from you and happy to have the opportunity to earn and win your trust and business. I can be contacted through any of the following:
Direct: 815.277.4036 Cell/Text: 708.921.6331
Conveniently at Skype: 630.219.1316
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Buying a Home, Credit Reports/Fico Scores, Mortgage Banker, Mortgages, Real Estate, Working with a Mortgage Professional, Credit and Financial Counseling, Mortgage & Transaction Processing, First-Time HomeBuyers, Obtaining Mortgage Quotes, Pre-Approvals, & Info, Debt, Education, Asking credit and mortgage questions, Home Buyers, home buying, FHA Mortgage Lending, Closing Costs, Pre-Qualification/Pre-Approval, HUD
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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, Sr. Vice President - Chicago Bancorp: Posted on Monday, January 30, 2012 3:14 PM
Information Available at the Tips of Your Fingers. Tapping Information Available Through Chicagoland County Websites
Why and How It's Important ...
I've written more than a few times, that I have a background of over 20+ years as a licensed IL Real Estate Appraiser. Back when I started in the mortgage business, it wasn't uncommon for mortgage lenders to have dual responsibilities within their companies like this.
 And of all the additional things I've studied, learned, and tackled within the framework of my years of mortgage services, I've found that my appraising education and experience has proven the most beneficial to me in conducting my services ... and my clients. It's just been immeasurable.
To say that "things have changed" somewhat over the years is an understatement. The amount of information now available to a professional Appraiser is almost mind-boggling.
One of the greatest advantages for Appraisers performing appraisals in Will County, IL can now be found through the County's Supervisor of Assessments' website. The Plats of Subdivision for the entire County of Will ... Township by Township ... Section by Section ... Acre by Acre ... Lot by Lot ... and Parcel by Parcel ... is now available just by "clicking" on the Supervisor of Assessments' site.
As a former Appraiser that had to lug and then search through huge mountainous books of information years ago, that fact alone is amazing to me. Those cumbersome books were unbelievably costly to possess too, I may add. Now? Click, click, click ... and that information is yours ... FREE. And whether a professional or a member of the general public. Rather impressive, I'd say.
The information contained within the Will County Supervisor of Assessments' website is accessed easily. The whole website is very "user-friendly". But the same can be said for the other County Departments regarding taxes, recordings, and more. I think Will County has done an exceptionally good job at making this information easily attainable for all that visit their sites. Much the same can be said for other Counties in the Chicagoland area.
Now, you must by this time be asking, "Why should I care about all of this"?
 As a Realtor/Broker ... This valuable County information is available to you easily, as well. Research and verifications of tax bills, tax amounts, Assessor's records of recently transacted sales, Recorder's filings for deeds, mortgages, mortgage releases, and more ... are easily found, verified, and then utilized within your transactions. Click ... done! No more chasing down the info like in the past.
Mortgage Lenders ... must access and utilize the same information. Having it as accessible as it is now is fantastic. And that great benefit trickles down to home buying transactions too.
Within my own Mortgage Lending services, it's proven to be immensely beneficial when questions or issues regarding a potential purchased property itself has been raised ... even prior to actual mortgage application. Having the deep well of information
contained within these websites has been an unbelievably wonderful asset and
pool of information for me. It's assisted me in servicing my clients and referral partners' mortgage lending needs more quickly and thoroughly. It's saved my clients and referral partners time, money, AND frustration.
As a Resident or member of the Public ... the addition of this multitude of information to these Will County websites must not be overlooked. YOU now have simple and easy access to information that was once much harder for you to obtain. That YOUR County of Will (and others) has undertaken the task of making this information available to you, shows great commitment on their part. The task must have been staggering both in the amount of data to be entered and the time it took to complete it.
I've provided a listing below, of a few of the Illinois Counties within the Chicagoland area that are providing a wealth of real estate-related information within their County websites. Bookmark or save this blog. The information contained below is very useful and may benefit you immensely at some point in the future, whether for personal or business purposes.
As always, should you have any questions regarding the information you seek, please feel free to contact me. I'll provide whatever information or assistance that I can to help serve your needs.
Cook/Chicagoland
Counties' Websites & Info
Will County, IL:
Du Page County, IL:
Du Page County Assessors Directory:
Kane County, IL: Kane County Assessors Directory:
Cook County, IL:
Lake County, IL:
Grundy County, IL: Supervisor of Assessors Website:
Kendall County, IL:
McHenry County, IL:
* Thinking of buying a home ... or refinancing ... in Will County or neighboring Chicagoland counties? Let me put my 35 years of experience and expertise to work on your behalf. Contact me today. We'll work together to find you the best possible mortgage and mortgage terms available to you. Terms that will cement a brighter financial future. I can be reached at any of the following: Direct: 815.277.4036 Cell/Text: 708.921.6331 Skype: 630.219.1316 |
Mortgage Lender, Real Estate, Appraisals, Chicagoland, DuPage County, Localism Posts, Will County, Gene Mundt's Client Services, Will County Services, Cook County, Lake County, Chicago, Community Info, Community Services, Helpful Hints, home buying, County Services and Departments, Property Assessments
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