Knowyouroptions.com Real Estate

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Pre-Closing Know Your Options

3 days ago . 30 people watched

The lender should have a licensed real estate appraiser evaluate the property and complete a Uniform Residential Appraisal Report, Form 1004. This report shows the calculation of the fair market value of the home by comparing the property to recently sold homes in the neighborhood. The report should also show the market value based on a “cost

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Find A Home Know Your Options

1 days ago . 30 people watched

House Hunting Basics It’s usually recommended that homebuyers work with an experienced real estate professional. Not only will they assist you in your search, but they’ll be able to provide advice and support throughout the process—contract negotiations, financing, home inspections, closing, etc.

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Find A Rental Property Know Your Options

3 days ago . 41 people watched

Real Estate Agent/Broker; In some cities, a broker may be needed to help you locate your new home. A broker, typically a real estate professional, packages all your financial information and submits it to the leasing office and/or landlord for you. They often have access to rentals that are not listed publicly and may offer a wider variety of

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Rental Programs Know Your Options

1 days ago . 34 people watched

Contact the real estate agent immediately – You’ll need to promptly contact the agent and express your interest in renting the home. Look for additional, time-sensitive information from the agent – Once you express interest in renting the home, you’ll receive a Rent …

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Looking For A Career Refresh

4 days ago . 28 people watched

Reality shows like “Million Dollar Listing” make the real estate industry look like an occupational dream come true. With flexible hours, incredible interiors, glitzy open house parties, and, of course, big commissions, the real estate space is alluring, but knowing how to break into the field can seem like a daunting task.

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Short Sale Know Your Options

6 days ago . 29 people watched

Contact a licensed real estate agent—Tell them you’re interested in listing your home as a short sale (if you have not already done so). Your agent will need: Your mortgage servicer contact information; Details of any conversations and information you’ve received from your mortgage servicer about doing a short sale for your home.

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Is A HomePath Property Right For You

8 days ago . 36 people watched

Your real estate professional can submit purchase offers right on the HomePath site. “By selling each home to a buyer who will enjoy the home and become part of the neighborhood, we’re helping to rebuild struggling communities—one home and one family at a time,” notes Severn.

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Day In The Life Of A Real Estate Agent: A Peek Behind The

9 days ago . 58 people watched

Her brokerage, Cosmopolitan Properties, handles real estate owned (REO) properties for Fannie Mae. Abney’s team is responsible for about 100 Fannie Mae REO properties (which they call “assets”). The average listing price is $180,000. New assets are …

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Close On Your Home Know Your Options

8 days ago . 37 people watched

Your real estate agent and lender will assist you with this process. Closings occur at different places in different states. The lender arranges the closing and ensures that the closing agent has all the necessary documents in place. Some closings may be required to take place at a closing attorney’s office, while others may use a title or

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Questions To Ask Your Real Estate Professional, Lender

7 days ago . 55 people watched

If you have questions, ask your lender, your real estate professional, a real estate attorney, or the officers of the condo’s HOA. You may also find it helpful to do some online research. In most cases you have a limited period to review the condo documents after your purchase contract is …

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Getting Started Know Your Options

1 days ago . 34 people watched

Select how you’ll market and list the home (e.g., with a real estate agent, for sale by owner, or using an online marketplace). There are pros and cons to each, but unless you are experienced at selling homes, it usually makes financial sense to get professional help. A professional real estate service will help you determine the best pricing

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House Hunting Basics Know Your Options

2 days ago . 39 people watched

House Hunting Basics. It’s usually recommended that homebuyers work with an experienced real estate professional. Not only will they assist you in your search, but they’ll be able to provide advice and support throughout the process—contract negotiations, financing, home inspections, closing, etc.

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Buying Homes On Their Own Terms Know Your Options

3 days ago . 50 people watched

Speaking of scenes. We let Peter Grimm, long-time real estate agent in Washington, DC paint us a picture of what his Millennial clients (about 30 percent of all his clients) look for in their first home. “They often look for a trampoline property,” Grimm says.

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Selling A Home With Equity Know Your Options

2 days ago . 45 people watched

Negotiate offers and close—Your real estate agent will work with you to evaluate and negotiate offers on your home. Once you and the buyer agree on the sales price and other terms, each party will formally accept by signing the sales contract. The last step is closing on …

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What You Should Know About Homebuyer-Prep Courses (Even If

6 days ago . 59 people watched

More real estate professionals and lenders are encouraging their customers to get this kind of professional education and advice. “It helps increase the pool of eligible, knowledgeable homebuyers — and prepares them to succeed as homeowners,” says Anne McCulloch, senior vice president for Credit & Housing Access, Affordable Housing

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Sale Price Vs. Appraised (or Market) Value Know Your Options

1 days ago . 61 people watched

Fannie Mae (which publishes The Home Story) works with local real estate professionals to help establish list prices on properties it owns that are for sale nationwide (known as Real Estate Owned or REO). “We want the list price to attract buyers and still give us the most return on that investment for taxpayers,” says Steven Corbin

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Feel It Before You Buy It: 3 Clues That A House Might Be

1 days ago . 57 people watched

Ask the seller or real estate agent what they can tell you about these two things. You feel hot or cold outdoor air sneaking in around the edges of doors, windows, and plumbing fixtures. There are gaps that need to be sealed with weather stripping or caulk.

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Short Sale Fraud Know Your Options

8 days ago . 35 people watched

Short sale fraud is on the rise for several reasons, says Tim McCallum, director of short sales in Fannie Mae’s Real Estate Asset Management division. “The short sale process is a lengthy one compared to a normal real estate transaction, taking anywhere from 2 to 6 months—the long timeline and multiple parties involved have made short

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What You Should Know About Homebuyer-Prep Courses (Even If

Just Now . 59 people watched

Others, especially immigrant communities, may face a language or cultural barrier, says Wayne Bell, Real Estate Commissioner for the California Bureau of Real Estate. There are resources to help ensure non-English speakers are protected, including HUD.gov that lets consumers search for agencies by language in their state.

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Mortgage Basics Know Your Options

8 days ago . 34 people watched

Type of loan that is secured by real estate (i.e., the home you purchase). Unless you are paying cash for the home, you'll need a mortgage. You promise to pay back the lender (usually in monthly payments) in exchange for the money used to purchase the home.

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Stage Your Home For A Faster Sale Know Your Options

5 days ago . 52 people watched

Stage Your Home for a Faster Sale. Apr 1, 2013. Imagine a $300,000 home that languishes on the market for six months. The seller and real estate agent become frustrated and consider dropping the price $15,000 (5%). Now imagine investing only a fraction of that sum in staging and selling the home much faster. That’s the value of staging, which

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Is It Really Better To List A Home In The Spring

Just Now . 48 people watched

The national real estate brokerage tallied how many homes went under contract within 30 days and how often they sold for more than their list price to see if any of the four seasons came out on top. The company found that spring has a slight edge for sellers, “but just barely.”

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Get Started : Buying Process

1 days ago . 28 people watched

Before you get serious with your search, you’ll want to find a real estate agent and get your financing in order. We’ll go through these steps in detail, but it’s a good idea to start gathering your financial records (pay stubs, W2s, bank statements, etc.) and have them …

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Tips For Homebuyers Know Your Options

1 days ago . 38 people watched

Your city/town—to pay your local property/real estate taxes on time and in full. Neighborhood/HOA—to pay for all needed upkeep and maintenance and be a positive asset to the neighborhood and community. Home—to maintain the safety and soundness of your home keeping it insured and in good condition. If you feel like you can’t make these

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Home Flipping Is On The Rise Know Your Options

Just Now . 47 people watched

Flipping is a “normal” part of the real estate market and can add value to properties, says Amy Heinz, managing director of Fannie Mae’s Mortgage Fraud Program. “This activity can go a long way toward gentrifying neighborhoods,” she adds. Homes flipped in 2015 were purchased at an average discount of 26 percent below estimated market

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Are First-time Homebuyers Snubbing ‘Starter Homes’ In

6 days ago . 58 people watched

That concept of a starter home is “quickly becoming a real estate relic, like track lighting and brass hardware,” notes a recent article in USA Today. A starter home might be described as “smaller, it’s cheaper, and in an area that might not be in an area where you eventually want to settle down,” Issi Romem, chief economist for

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What Is A Buyer's Market—and What Does It Mean If You’re

9 days ago . 61 people watched

Buying or selling a home can be a lot like playing a game of cards: You gotta know when to hold ’em and when to fold ’em. To determine the best moments to buy and sell, most people look to the real estate market—whether it's a buyer's market or a seller's market. We gathered a team of real estate pros to break it all down.

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Navigating The Short Sale Process Know Your Options

5 days ago . 52 people watched

You should work with a real estate agent (preferably with recent Short Sale experience) to market and sell your home. Help for Fannie Mae Homeowners If your loan is owned by Fannie Mae ( find out ), your agent should visit www.HomePathforShortSales.com , an online Fannie Mae resource for listing agents with information about what to expect in

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Going Global: The Impact Of International Home Sales On

6 days ago . 56 people watched

International home sales can inflate home prices in specific real estate markets. According to NAR, the average single-family home sale price to an international client is $449,600, nearly double the average U.S. home sale price of $255,600. However, as with other kinds of investment like international stock ownership, once economic conditions

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Are Housing ‘Pros’ Too Old For Millennial Buyers

8 days ago . 52 people watched

A real estate agent’s age was a low priority for Shavanna Miller and Aaron Smith of Washington, DC, when they chose an agent to help in their home search. “Having someone who understands the trends in the different neighborhoods that are up …

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Cash-only Home Sales Declining But Still One-Third Of

8 days ago . 54 people watched

Among all-cash transactions in March, the largest chunk were for real estate-owned (REO) properties at 57.2 percent, followed by resales at 32.9 percent, short sales at 30.6 percent, and newly constructed homes at 14.4 percent. However, REO sales accounted for …

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The Mistakes Renters And Buyers Make That Could Cost Them

3 days ago . 58 people watched

of various parties to a real estate transaction, such as the buyer, seller, agent, and/or escrow officer. Then, at some point before the close of escrow, the criminal will send the buyer an email supposedly from one of the other parties and include instructions for wiring funds, such as a …

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Top 10 U.S. Housing Markets To Watch In 2016 Know Your

4 days ago . 56 people watched

In its “10 Real Estate Markets to Watch in 2016,” Realtor.com pegged the “Creative Capital” as one of the top up-and-coming markets to watch, citing strong demand for housing, a prosperous job market, and low unemployment. Realtor.com’s economists predict a home price appreciation of 3 percent or more for Providence in the coming year.

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How Starbucks And Trader Joe’s Are Drawing In Homebuyers

7 days ago . 59 people watched

Real Estate Agent Cassandra Stahl ran the numbers a year before and after a new Trader Joe’s opened in 2012 in Plano, a suburb north of Dallas. She found that sales prices increased 5.58 percent during that period, while the general West Plano area appreciated 5.56 percent. “Contrary to the Zillow findings, there was no significant increase

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Making An Affordable Mortgage Product Easier To Use

1 days ago . 52 people watched

We wanted HomeReady to be the product lenders and real estate agents think of for their low- to- moderate-income clients. As a powerful alternative to FHA loans. As a safe and sound, conventional option. And with an education feature that better prepares their clients for …

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'What Will My Home Be Worth

Just Now . 27 people watched

The Google Translate feature is a third-party service that is available for informational purposes only. Fannie Mae is unable to guarantee the accuracy of any translation resulting from the tool and is not responsible for any event or damage that occurs as a result of using the translations generated by the Google Translate feature.

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Preapproved Vs. Prequalified: Which One Is Better For You

7 days ago . 58 people watched

Plus, a preapproval letter helps real estate agents and sellers know that you’re a credible buyer and able to act fast when you find the home you want to buy. “When the seller has two offers, one that’s preapproved and one that’s not, those are two very different scenarios for a seller,” says Titsworth. Going through the preapproval

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Responsibilities Know Your Options

1 days ago . 35 people watched

Property-related expenses include real estate (property) taxes; utilities; homeowner’s insurance (also referred to as “hazard” insurance); homeowner’s association (HOA) fees, and flood insurance premiums (if applicable). Maintain the property’s condition at the same level it was kept at the time the reverse mortgage loan was obtained.

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Selling A Rental Property

6 days ago . 25 people watched

Real estate expert and author Michele Lerner says, for example, in Washington, DC, tenants have a “first right of refusal,” which means that landlords need to notify the tenant when they are putting the property on the market and must provide the tenant with a complete disclosure of the sales price and other information about the property.

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The Real Cost Of Famous New York TV

8 days ago . 36 people watched

The median resale price rose on a year-to-year basis from $885,000 to $950,000 in the first quarter of 2016. “ (The) real estate landscape has shifted so profoundly over the last two decades that this generation’s girl-about-town occupies a very different kind of space,” Ronda Kaysen writes in a September 2016 article in The New York Times.

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When Is An Earnest Money Check Supposed To Be Cashed

4 days ago . 53 people watched

In the real estate market, the earnest money check is one of the essential ways buyers prove they're serious to sellers. It's a substantial chunk of change that will be included with your offer to the seller to further prove that you are really serious about buying the seller's house.

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Helping Millennial And Minority Buyers Overcome Barriers

5 days ago . 57 people watched

Helping Millennial and Minority Buyers Overcome Barriers to Homeownership. Recent data from the U.S. Census Bureau shows a continuing slide in the national homeownership rate. According to the data, the national homeownership rate fell from its peak of 69.2 percent in the fourth quarter of 2004 to 62.9 percent in the second quarter of 2016.

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Homeownership And Taxes — A Q&A With Tax Attorney Bruce

2 days ago . 62 people watched

Owning your home can certainly help lessen what you owe the IRS come April 15, but, Edwards says, taxes are just one of many considerations to be weighed when deciding whether to rent or buy. Edwards offers his thoughts to The Home Story on how to factor taxes into real estate

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About knowyouroptions.com real estate

Real Estate Owned (REO) Homes . While we work with lenders to help homeowners avoid foreclosures, sometimes they’re unavoidable. When a Fannie Mae home loan goes into foreclosure, we acquire the property, which becomes known as real estate owned. Our goal is to sell the property in a timely manner to maintain the vitality and stability of the

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FAQ?

Is real estate a good investment right now?

Real estate is generally a great investment option. It can generate ongoing passive income and can be a good long-term investment if the value increases over time.

How much can you make in real estate?

Real estate is often a referral-based business. Those who are involved in the business longer typically are the most successful. Those with 16 years or more experience earned the highest real estate income: approximately $78,850 on average.

What is the best real estate market?

Dallas tops the list of real-estate markets over the period studied, exhibiting strong price appreciation, while remaining a market in which investors saw strong rents relative to property values.

What is the most expensive real estate in the US?

Manhattan real estate is the most expensive in the US per square foot with some properties topping $10,000: Study. Move over San Francisco — the Big Apple tops Silicon Valley as most expensive place to live in the United States, a new study shows.

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