White House Announces New Refinance Effort to Help Housing Economy

The White House announced a new mortgage refinancing plan in hope it will be in effect by the end of this month. The Obama Administration has proposed a housing initiative with new regulations to make it easier for homeowners to refinance their mortgages.

 

President Obama’s initiative would be made to the current Home Affordable Refinance Program, the national refinance program that has been active for the past two years.  The White House plans to reach out to millions of homeowners struggling to make mortgage payments and hold onto their properties.  This new program could allow them to refinance mortgages even if their home is worth less than what they owe.

 

The White House has prioritized efforts to help the current housing economy and to assist the millions of struggling homeowners in America.  The Obama Administration states:

 

“Homeowners on average could save $2,500 a year…that means about $50 billion a year nationwide.”

 

Agency officials are looking to reduce fees and relax eligibility standards to refinance property mortgages.  The new changes to the Home Affordable Refinance Program will help homeowners with little or no equity in their houses refinance by reducing cost and removing caps which would prevent deeply underwater borrowers access to the new program.  President Obama is pushing to streamline the process of home refinancing with hopes to raise the current loan-to-home value ratio cap, which is currently at 125%.

 

To experience the best in Corpus Christi Real Estate visit mirabalmontalvo.com. Mirabal Montalvo & Associates is one of the top selling brokerages in Corpus Christi, Texas specializing in the residential and commercial South Texas real estate market.

Top Five Mistakes Sellers Make

Finding the Best Agent

 

Finding the right agent can make or break the sale of your home and can make all the difference in your selling experience.  Be sure that the person is licensed by the state in which they work either as an agent, salesperson, or broker and that all necessary requirements are met.

 

Find an agent that you are comfortable working with that is honest, confidential, and pays close attention to detail.  Choose an agent that provides feedback on your home openly and honestly.  You should feel confident about trusting your real estate agent. Remember that you are paying your agent good money, so make sure they have experience in their field.  It would be in your best interest if you choose someone that works as an agent full-time.  Many real estate agents work part-time, but you should choose an agent that is fully committed to the real estate industry.

 

Mirabal Montalvo and Associates can offer you the best real estate agents in Corpus Christi.  Contact our team of agents today:

 

http://mirabalmontalvo.com/about/

 

Questioning The First Offer

 

In most cases, a home’s first offer is often the best.  It is quite common amongst sellers to be insulted by the first offer made on their home, don’t be!   Many people believe that a better price will always come after the first offer. This initial offering price is usually not as insulting as you think; it often turns out to be the best price choice!  Informed buyers will seize a property they are interested in with a competitive bid as soon as your property hits the market.  You may see some low offers being made at times, but don’t assume that you’ll receive better bids the longer you wait around.  You don’t want your home sitting on the market unsold forever.  Listen to each offer and present a realistic counter offer.

 

False Advertising

 

Misrepresenting a home has been a growing problem amongst sellers.  The most common sources of falsely advertised home information include home descriptions and digitally-enhanced photos.  False information when describing number of bedrooms in a home attracts the most complaints.  Misled buyers will attend an open house to find that the four bedroom home they were expecting has only three bedrooms, the forth room being a basement or garage storage room.

 

Photo alterations are easy to get carried away with, as most computers come equipped with photoshop/photo editing programs.  Retouching a photo to add shrubbery in the backyard or editing the size of your neighbor’s home to make your home seem bigger will only disappoint your potential buyers.

 

Inadequate Listing Photos

 

The internet has become the most common place for interested buyers to begin their property searches.  The appearance of your home on the web is a crucial factor when marketing your home online.   The presentation of your home online should accurately represent how your home will look during an open house. The most common problem with online home marketing is that there are an inadequate number of listing photos presented.  Sellers should include as many photos allowed on the real estate listing server, don’t be skimpy! Highlight all of the major rooms in your home along with amenities and other attractive features.  The kitchen, bedrooms/bathrooms, and outdoor space are the most commonly photographed areas that could use a few more featured photos.

 

Home Proud

 

It is very common to get ‘home-proud’ of your property, leading to unrealistic views on the selling process.  You have to realize that your home is not the only one in neighborhood that is for sale.  The market is challenging and competitive, to say the very least.  With this in mind, make sure your home pulls in the right kind of potential buyers and stands out from the rest of the competition.  Just be sure not to get too ahead of yourself, it’s always positive to have confidence, but have the facts too!

 

To experience the best in Corpus Christi Real Estate visit mirabalmontalvo.com. Mirabal Montalvo & Associates is one of the top selling brokerages in Corpus Christi, Texas specializing in the residential and commercial South Texas real estate market.