Saturday, August 11, 2007

What's Your Say

QAC Realtors, Here’s an interesting question, I just received: How are realtors going to charge a premium price for a commodity that is not in short supply?

2 comments:

Anonymous said...

How many times have you uttered those words to your favorite lender when they called to tell you that your deal closing in 3 days has an ‘appraisal issue?' Probably been hearing it a little more lately since the sub-prime and Alt A lending market has been in tight downward spiral right?

That being said it's a good time to brush up on the Fannie Mae standards for valuing property
I find a good source to stay current on such is the Mortgage Guarantee Insurance Company (MGIC) website. http://www.mgic.com/guides/uwguide.html

It provides a streamlined search of the underwriting guides without having to navigate through the Fannie Mae site which can be tedious.

August 11, 2007 8:32 AM
Jamie Guiterez said...

Dear Anonymous,

I don't think you should put alot of faith in appraisals right now. It is a different market.
That is a good site, I use that here in Montgomery County.

Here are my pointers for dealing with real estate-admit that we are in a slow market, it helps to be more selective over which properties you really want to list. Yes, you will see a sign on it eventually however, taking properties which you believe will not sell is like sinking yourself slowly with a ten pound weight.
Today's sellers needs are all very different. Especially for the ones who purchased a property in the past 2-3 years. As prices to continue to decline, a new wave of buyers will come into the market. Focus on what you want to achieve and match sellers and buyers to that objective, finding the best deals (both for sellers and buyers) will facilitate more sales. Good luck and sell well!

August 11, 2007 10:18 PM

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