😍👏👏🙌 Love THIS!!!. “The only thing worse than being blind is having sight but no vision.” Helen Keller #Vision#NoFear
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👩🏼💻Claudia Villalobos | Realtor ®️
West USA Realty
Hablo Español .
For the first time since 1994, certain home sales of $400,000 and under will soon not need an appraisal after federal regulators approved a proposal to increase the threshold at which residential home sales require an appraisal.⠀
Last November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal.⠀
The agencies deliberated the rule for nearly a year, taking into consideration the more than 560 comments the agencies received about the rule change.⠀
Last month, the FDIC and OCC signed off on the rule, but were still waiting on the Fed to approve the rule change as well.⠀
Now, the Fed has also given the rule change its stamp of approval, and with all three agencies signing off, the appraisal rule change will soon go into effect.⠀
“The appraisal threshold was last changed in 1994,” the federal agencies said in a joint statement. “Given price appreciation in residential real estate transactions since that time, the change will provide burden relief without posing a threat to the safety and soundness of financial institutions.”⠀
According to the final rule, which can be read here, the change will go into effect as soon as the final rule is recorded and published in the Federal Register.⠀
A spokesperson for the FDIC told HousingWire that the rule has been submitted to the Federal Register, adding that the publication of the rule should take place within a matter of days.⠀
If you would like to read the entire article go to our facebook fanpage www.fb.com/thedreamteamvip. If you want to explore your options please give us a call (623) 206-1074.⠀⠀
Here are some of the benefits when refinancinf your home:⠀
1) Lower monthly payments. It is true that the house is the biggest asset a person can have. But it is also true that the monthly payment for mortgage is the biggest eater of monthly budget. So, would it be better if homeowners have the choice of lowering down the monthly payment? Refinancing is the best way to do it, since refinance will adopt the current interest rate. Every borrower knows that he or she is paying big on interest rate especially during the first half of the term. If refinanced, the old rate with higher monthly payment is replaced by new and lower rate that equates to lower monthly payment.⠀
2) Changing from fixed-rate to adjustable rate. Interest rates influence the fees homeowners pay monthly. There are two kinds of interest rates used in mortgages: fixed-rate and adjustable rate. When the rates are low, the adjustable rate mortgages are the most desirable. Meanwhile, if the interest rates are high, fixed-rates can be more ideal option. So if the homeowner has applied for fixed-rate loan and the interest rate have suddenly went down, changing from mortgage fixed-rate to adjustable rate is the best option.⠀
3) Option to shorten the length of mortgage. Mortgage refinance would allow homeowners to change the length of mortgage. For instance: A homeowner is on the 7th year of payment on a 30-year term, with mortgage refinance, he can switch to shorter terms and opt either for 10, 15, or 20 years. ⠀
4) Extra cash. Using refinancing, a homeowner can access extra cash through the equity he has built. This is helpful in remodeling the house or paying for other things. ⠀
If you want to explore your options please give us a call (623) 206-1074.⠀
⠀ #mortgage#rentersinsurance#rentersproblems#lender#broker#agent#loanofficer#loanoriginator#mortgagebroker#realestatebroker#RealEstate#DreamHome#StopRenting#Realtor#YouDontKnowUntilYouTry#Agentedebienesraices#DreamHomeFinderAz#houses#homesweethome#HouseForSale#decor#farmhousestyle#Trulia#Zillow#thedreamteam#vipmortgage#dmultimediamarketing .
There are few purchases in life that carry the financial and psychological weight of buying a home. Whether you are buying your first home, moving up to your dream home, or downsizing your home and your life after the kids have gone, it is important to understand the ground rules for success in the world of buying a home.⠀
Making the wrong decision in buying a home can have devastating and long lasting effects, while making a wise decision in home buying can greatly enhance the overall value of the investment. It is necessary to learn all you can about the world of home buying and mortgages before setting out to purchase the home of your dreams.⠀
When buying a home it is often best to use a systematic approach as this is often the best way to be sure that all decisions are based on information and reason, not on impulse or emotion. Buying a home can be an emotional process, nevertheless it is imperative to keep your emotions under control and not let them cloud your judgment.⠀
There are five basic ground rules when it comes to buying a home and shopping smart, and they are:⠀
1 – Get your financing before you get your home⠀
2 – Look at the community, not just the home⠀
3 – Be fair with your first offer⠀
4 – Always get a home inspection⠀
5 – Do not alienate the sellers of the home⠀
If you want to read the full Article go to our Facebook page fb.com/thedreamteamvip⠀
If you are looking to purchase a home, send us a DM!⠀
Most real estate agents want to be extremely successful. Goals are set and then the hard work begins to reach those goals. So what steps can you take to skyrocket your success as a realtor? Here are 7 powerful steps that will get you on the road to success:
1. Realize your Potential: In order to succeed as a real estate agent, you need to see that you have the potential to reach your goals.
2. Don’t Look Back: Everyone has failures or mistakes from the past. To have success in the real estate industry, you need to learn from those past mistakes and learn valuable lessons from them. After doing so, simply move forward and make better, more educated decisions from the lessons learned.
3. Dare to Dream Big: To succeed as a realtor, you need to have big dreams and aspirations. Be honest with yourself as to what you want out of life and what you want to give of your life. Allow your mind to dream and think big!