National Builder Trade In Program

HELPFUL TIPS ON BUYING NEW CONSTRUCTION!

by Builder Trade In Program Jun, 19

 

 A lot of people ask what’s different about buying new construction.

First of all, you’re buying from the person who built it, not the person who called it home. The property is often one of many the builder is trying to sell. This can lead to a different dynamic both in negotiating and throughout the transaction.

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HELPFUL TIPS ON BUYING NEW CONSTRUCTION!

by Builder Trade In Program Jun, 19

 

 A lot of people ask what’s different about buying new construction.

First of all, you’re buying from the person who built it, not the person who called it home. The property is often one of many the builder is trying to sell. This can lead to a different dynamic both in negotiating and throughout the transaction.

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Now is the time to buy a home - mortgage rates and home prices creeping up

by Builder Trade In Program Jun, 12

Freddie Mac's Primary Mortgage Market Survey, released on June 4, indicated the average interest on a 30-year fixed-rate mortgage remained the same on a week-over-week basis. However, Bankrate tracked a small decrease from the previous week. In both instances, the rates remained at a higher level than seen in 2015.

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OUTDOOR LIVING IS A HUGE FACTOR IN HOME BUYING DECISIONS

by Builder Trade In Program May, 22

Research has shown that the exterior of the home is just as important as the inside when buyers are shopping for a new home.  According to Realtor.com 54% of women and 46% of men said that they would buy a home solely because of the livable outdoor space.  The need to have beautiful landscaped areas has affected purchasing decisions by buyers across the country.  People want to be surrounded by natural elements and love to spend time outdoors. Social media has driven these trends as buyers are referring to Houzz and Pinterest for design ideas.  Builders have noticed that the demand for front and back porches, firepits, outdoor gas fireplaces, outdoor kitchens, creative patio spaces and landscaping have increased in popularity with new home buyers and they are ON TOP OF IT!

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Did all politicians, reporters and newscasters all flunk history?

by Builder Trade In Program May, 15

I'm sure all went to college.  You'd think they would be well versed in history. Why........because history is our best teacher and always repeats itself.

 

Headlines last week....5/12/15 "Scorecard: More Americans (finally) focus on savings!"

 

Headlines this week....5/14/15 "Consumers fail to open pocketbooks in April...

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Big changes coming to the Mortgage industry on August 1st, 2015

by Builder Trade In Program May, 01

 

"The new TRIO disclosures and other requirements are major game-changers for how we will originate and close mortgages.”  

-Adam Kessler, President, Academy Mortgage

 

Due to changes required by the Dodd-Frank Act, the CFPB has published   revisions to Regulations Z and X (TILA and RESPA) that will create some significant changes to mortgage lending, effective August 1, 2015.  These TILA-RESPA changes-which   Academy is calling TR ID-include   2 new integrated disclosures: the Loan Estimate and the Closing Disclosure. These new disclosure forms have been extensively tested in focus groups to assure greater clarity.

Loan Estimate form: For the last 40+ years the mortgage industry has provided borrowers with a Good Faith Estimate (GFE) and an initial Truth-in-Lending disclosure ("early TILA").  The GFE and "early TILA" forms will be combined into one new form, called the Loan Estimate. The purpose of combining the previous forms into the new Loan Estimate is to help borrowers better understand key features, costs, and risks of the mortgage for which they are applying.

 

Closing Disclosure form: This form will be created to combine the HUD-1 and the final Truth-in-Lending disclosure.

The new Closing Disclosure form must be provided at least 3 business days before the consummation of the loan. This change and others will have an impact on the industry and provides Academy the opportunity to get out in front of the news.

 

Other changes:  In addition to the new forms, several rule changes and investor overlays are among the coming TRIO changes.

 

Here is a look at Now and Next look at how mortgages are originated and closed.

 

 

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US Single-Family Landlords Are Raising Rent, now’s Your Time to Buy

by Builder Trade In Program Apr, 24

According to recent reports, some of the largest, corporate landlords in the country are planning to raise their rents an average of 4% this year.  Corporate landlords are seeking to profit from increased demand for rental homes after building a new real estate asset class on the rubble of the housing crash, as they built up their portfolios with low-priced properties.  But as the market has improved, and home prices increased, these investors are now ready to focus on optimizing revenues.  New and refurbished apartments are now renting for even more than a single family home, and landlords recognize this.

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New-Home Sales Up Nearly 25 percent as Builders Respond to Buyer Demand

by Builder Trade In Program Apr, 17

Depending on what part of the country you live in, a new-construction home may be your best way to avoid the bidding wars of the existing-home market.

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THE TAX BENEFITS OF HOME OWNERSHIP

by Builder Trade In Program Apr, 10

It’s tax season again…..  a perfect time to review the financial benefits of owning a home.

Owning a home makes a lot of “cents” especially around tax time.   Many home-related expenses are tax deductible and, believe it or not, you can even enjoy the tax benefits when you sell your home.

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7 Pieces of Good News from Last Week!

by Builder Trade In Program Apr, 03

 

  1. Interest rates drop this week: why? The Feds, forecasted that we would have at least 250,000 new jobs this month we only had 126,000, this is disappointing for the job market, but, rates have dropped, meaning good news for the consumer, especially those in the housing market!
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