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Posts Tagged ‘how to get top dollar’

Buyer BEWARE: Mortgage Loan: Terms Change At Signing

Buyers told one thing at PreApproval and PreQualifying appointment— for instance, 5% interest on 2nd loan.

At signing/closing of transaction they discover the 2nd is actually at 8%, not 5%.

You can call this Bait-and-Switch or you can call this MORTGAGE FRAUD.

The buyer’s are caught between a rock and a hard place. They can refusing to close all together, or hold up closing to try and iron it all out, or accept the transaction with the higher interest rate.

Meanwhile the buyer’s furniture is in the moving van, their rental is already sublet, and the seller’s furniture is in the moving van and the home has been cleaned spotless, ready for the new buyers.

Now the buyer’s can’t get any lower interest rate than that anywhere else so there is no point in holding up closing for two weeks to run it through another mortgage company, but that particular loan officer gets the business. (They do this to outshine all the other competition at the  pre-approval/pre-qualifying period several weeks/months prior.  Remember, IF IT SEEMS TOO GOOD TO BE TRUE… IT IS.)

This makes me REALLY mad. Hope it makes you mad too!

How to make sure this doesn’t happen to you:

BE sure to get a GFE (Good Faith Estimate from your loan officer in advance). Make sure the loan and rate you are quoted is in black and white and you keep it in your possession.

Review it with other reputable loan officers as you shop for your mortgage officer. They will be QUICK to point out that it is TOOOOOOO Good to be True.

Have your real estate broker/agent advise the loan officer that they report suspicious bait-  and- switch or fraudulent behavior (let them be the ‘Bad Cop’ for you).

I always tell my clients, “Listen, I’ve got your back. I have a very low tolerance for this behavior.”

Warmest,  Julie Hutton

‘I would love to get one of your friends or family into their dream home!

Please call me if you know of anyone who it thinking of buying or selling a home.

 I PROMISE to make you proud!’  – Julie

 Realtor

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

 Julie@JulieHutton.com

www.JulieHutton.com

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US Economy Timeline JULIE HUTTON Real Estate

2002—2007         Real Estate Boom

2001—2002         Corporate scandals

1995—2000         DOT.com exaggeration

1991—1995         Slow, steady recovery

1989—1991         Savings & Loan Crisis

1982—1987         80’s Boom

1970—1982         Oil shocks—high prices

1960—1970         Peaks and Valleys

1945—1970         25 years of The Affluent Society Period (after World War II)

1929—1945         16 years of The Great Depression

I think the primary point I’m wanting to make is that we have experienced many shifts, changes and ups, downs with the economy in the past AND we will recover from this TOO.

The sun will come out tomorrow.

We will recover from the depression of the 1930’s.

London will rebuild from World War II.

The devastation from the Twin Towers will be cleared away.

The tsunami damage in Japan with be cleared away.

After a long cold winter, spring always returns, the sun comes out, the snow melts and the daffodils come into bloom again.

*Excerpt from Julie Hutton’s book Making a Financial Comeback to be released June 2011.

  Warmest, Julie

 Julie Hutton

 Realtor(R)

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

Julie@JulieHutton.com

http://www.JulieHutton.com

Getting Your Home to SOLD (1:32) http://www.youtube.com/watch?v=Yp5QuB3YpDM

Facebook Profile http://www.facebook.com/pages/Kirkland-WA/Julie-Hutton-Real-Estate/95502741259

Julie Hutton’s BLOG https://juliehutton.wordpress.com/

Linkedin http://www.linkedin.com/in/juliehutton

 

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Julie Hutton, a Seattle Realtor with Coldwell Banker Bain (specializing in Kirkland, Bothell, Woodinville, Kenmore) blogs about increasing your curb appeal with a new front door. Make a great first impression. If you have any questions email me at Julie@JulieHutton.com (Please be kind and don’t spam.)

Until next time…

Until next time…

Warmest, Julie

 

Julie Hutton

Realtor

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

Julie@JulieHutton.com

http://www.JulieHutton.com

Getting Your Home to SOLD (1:32) http://www.youtube.com/watch?v=Yp5QuB3YpDM

Facebook Profile http://www.facebook.com/pages/Kirkland-WA/Julie-Hutton-Real-Estate/95502741259

Julie Hutton’s BLOG https://juliehutton.wordpress.com/

Linkedin http://www.linkedin.com/in/juliehutton

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Until next time…

Warmest, Julie

 

Julie Hutton

Realtor

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

Julie@JulieHutton.com

http://www.JulieHutton.com

Getting Your Home to SOLD (1:32) http://www.youtube.com/watch?v=Yp5QuB3YpDM

Facebook Profile http://www.facebook.com/pages/Kirkland-WA/Julie-Hutton-Real-Estate/95502741259

Julie Hutton’s BLOG https://juliehutton.wordpress.com/

Linkedin http://www.linkedin.com/in/juliehutton

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33% of Homeowners Owe More Than Their Home Is Worth

“The owners of one-third of the houses in the Seattle metro area now owe more on their mortgages than their homes are worth, Zillow estimates.”*

*SOURCE:  http://seattletimes.nwsource.com/html/businesstechnology/2014166638_zillow09.html

(If you have a friend in the Seattle metro area experiencing this issue, would you please email them this link. I can help.)

Being in real estate and specializing in working with sellers that want to sell their homes, I come in contact with this reality every day.

If you purchased a home after 2004, this probably means you.

Many homeowners are now trapped in homes they can’t sell yet needing to lower their expenses or relocate to jobs elsewhere.

Also, many homeowners have been downsized with less earnings OR who have lost their jobs altogether. If they have savings, they have depleted those assets trying to keep up their mortgage payments. Ultimately, they run out of savings and still are tied to a home they can no longer afford.

What was once a blessing has now become a burden.

This is forcing many families into short sales, foreclosures, bankruptcy and destroying their credit rating.

If you’re concerned about your real estate situation, don’t hesitate to call or email. I can help. Don’t be ashamed or embarrassed. It is happening to millions of people.

I can quickly assess your situation and recommend many resources, even attorneys (bankruptcy and real estate) that may be in your best interest.

Like I said, don’t go into denial and waste precious time to take care of yourself and your family in the best way possible. I can help. I can quickly size up your real estate situation and suggest options for you. I have an abundance of affordable resources.

Before getting back into real estate seven years ago I was a counselor/life coach for 23 years. I am highly skilled at helping people find workable solutions for their lives—now for their ‘real estate’ related lives. <grins>

Besides being highly compassionate for your situation (we deal with it every day), I will keep your information confidential.

You will get through this situation and come out better for on the other-side. Just take one step at a time.

Once you’ve cleared away the debris you can start rebuilding your net worth and your credit rating. I can help here too. (There are some no-cost, truly reputable credit repair companies associated with real estate and homeownership.) You can and WILL rebuild your credit again.

Email me…. Julie@JulieHutton.com I can help!

Warmest, Julie

 

Julie Hutton

Realtor

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

Julie@JulieHutton.com

www.JulieHutton.com

Getting Your Home to SOLD (1:32) http://www.youtube.com/watch?v=Yp5QuB3YpDM

Facebook Profile http://www.facebook.com/pages/Kirkland-WA/Julie-Hutton-Real-Estate/95502741259

Julie Hutton’s BLOG https://juliehutton.wordpress.com/

Linkedin http://www.linkedin.com/in/juliehutton

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Reportedly there is 59 months worth of unsold inventory in the Seattle area. That equals 4.9 years worth.*

This invariably pulls down values, so when we come to you suggesting that if YOU WANT to sell this season we need to be in line with the current market conditions AND that usually means we need to lower the price.

Please know that we are well aware that this is a difficult decision for you. We respect your decisions and choices. We are your advisors and advocates in real estate, only. This represents your money, so it is always your decision.

Many times sellers are so frustrated with the market itself and then our ‘suggestions’ feel like we’re poking an open wound. PLEASE DON’T KILL THE MESSENGER.

We are truly always doing our best to help you accomplish what you want, given the conditions within which we are working—the current market economy.

I like to add a caveat to every conversation about pricing and where the market is headed… “The truth is…. Even the ‘experts’ are truly clueless, this is a new economy.”–Julie Hutton

*Info was sourced from here: http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245286096914

Until we talk again…

Warmest, Julie

 

Julie Hutton

Realtor

Sales & Marketing Specialist

Coldwell Banker Bain

8525 120th Ave NE, Ste 100

Kirkland, WA 98033

425-260-4440

Julie@JulieHutton.com

http://www.JulieHutton.com

Getting Your Home to SOLD (1:32) http://www.youtube.com/watch?v=Yp5QuB3YpDM

Facebook Profile http://www.facebook.com/pages/Kirkland-WA/Julie-Hutton-Real-Estate/95502741259

Julie Hutton’s BLOG https://juliehutton.wordpress.com/

Linkedin http://www.linkedin.com/in/juliehutton

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